While it is common for residential electric users to pay the same rate for electricity at all times, some electric companies offer peak and off-peak pricing options. Typically, night and weekend hours offer the lowest prices.Continue Reading
One example of an electric utility that offers variable pricing is We Energies, in Wisconsin. Customers on the "time of use" plan pay significantly higher prices for electricity from 9 a.m. to 9 p.m. Monday through Friday. In exchange, these customers pay markedly lower rates for electricity from 9 p.m. to 9 a.m. Monday through Friday and all weekend long. Customers can choose when they want their peak hours to be for any 12-hour period between 7 a.m. and 10 a.m.
When variable electric prices are available, customers have the potential to save money by using energy-intensive appliances when energy is offered at the lower price. Off-peak electric rates are also a great option for people who own electric cars, since they can be recharged when electricity is cheap and driven at any time, even when power is more expensive.Learn more about Electrical