As electricity demands grow and change, Carteret-Craven Electric Cooperative is introducing a new voluntary Time-of-Use (TOU) rate option designed to give members more control over their electric bills.
Unlike a traditional rate where electricity costs the same regardless of when you use it, the Time-of-Use rate encourages members to shift some of their electricity use to times when demand on the electric grid is lower and energy rates are less. By making a few adjustments to when certain appliances run, members can take advantage of significantly lower energy prices.
How the Rate Works
The TOU rate divides each day into three pricing periods:
- Super Off-Peak – 5.5¢/kWh
- Off-Peak – 6.5¢/kWh
- On-Peak – 40¢/kWh
While the super off-peak period remains the same year-round (10 PM – 5 AM), the on-peak and off-peak periods change between summer and winter to reflect when electricity demand is highest.
The higher on-peak price encourages members to reduce electricity use during the few hours each day when electricity is most expensive for the cooperative to purchase.
How You Can Save
The Time-of-Use rate rewards flexibility. Members who can shift energy-intensive activities outside the on-peak period have the greatest opportunity to lower their monthly electric bill.
Consider these easy ways to save:
- Charge electric vehicles overnight
- Program smart thermostats to cool or heat your home before On-Peak hours begin
- Delay pool pumps, water heaters, or other large electrical loads until Off-Peak or Super Off-Peak periods if your equipment allows
- Use programmable timers or smart home devices to automate energy use.
Even shifting just a few large appliances away from on-peak hours can make a noticeable difference over the course of a month.
Is the TOU Rate Right for You?
The rate may be a good fit if you:
- Have a flexible schedule
- Work outside the home during the day
- Own an electric vehicle
- Can automate appliances with timers or smart controls
- Are willing to adjust when you use major appliances
You can also try the All-Energy TOU rate with added peace of mind. Members who switch will receive a bill protection guarantee for their first 12 billing months. If your bills would have been lower under the standard residential rate, CCEC will credit you the difference. Click here for more information.
Be aware! Members who use most of their electricity during on-peak hours without changing their habits may see higher energy costs, so it’s important to understand and commit to the schedule before enrolling.
We’re Here to Help
If you’re looking for more control over your electric bill and are willing to shift some energy use to lower-cost hours, the Time-of-Use rate can be an excellent way to save on your electric bill while helping the cooperative save on wholesale power costs.
CCEC’s online TOU calculator allows members to estimate potential savings based on their energy use and lifestyle. For an in- depth look at your account and help determining if the TOU rate is right for you, contact CCEC’s Customer Service team at 252.247.3107.