I saved $8.50 this past month by being on the "Time of Use" plan for our electricity usage with Wisconsin Public Service. The rate for off-use hours is 1/4th that of regular hours. The off-hours are 8 p.m.-9 a.m., M-F, and all day weekends/holidays. Contact your provider to inquire about like plans.
Time of use rates are good for saving money only if you can "work" with their schedule. Where I live in CT the time of use rates "stink". Heaven forbid you need to run that oven, or load of wash in the dryer during peak$$ hours. What you save by using the off peak hours will be "eaten" up if you don't use their time frame. Look at your electric bill and pretend you have two sets of rates. Do the math as best you can to figure what you can save. Some programs make you stay with them a year, or if you opt out there is a fee charged. Always read the fine print! Here in Ct we were supposed to have Smart Meters (this was voted into law two years ago) so far we have nothing. The Electric Company which is owned by a non American, off shore Company wants to make as much $$ as it can off the rate payers. If you do have the option to have a smart meter in your home sign up ASAP. You choose the cost you will pay which saves a lot of money. If you have an energy storage system like I have you can cut your bill by 50% or more. See www.mrelectricity.com for more info.
RE: Saving Money Using Electricity at Cheapest Times
By (Guest Post)
Thanks for the tip. I am signing up for our local plan. You can use electricity at any time, but get the benefit of reduced rates from 9 PM - 10 AM. They say the average customer saves 9% on electricity.
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