If you’re looking for ways to manage your utility bills, there is one option worth investigating. Check with your local utility company to see if it offers what’s known as a Time of Use (TOU) plan. While these plans require some adjustment and a healthy dose of personal discipline, they also the possibility of saving real money on your utility bills.
It's critical to not e that most TOU plans will charge you a higher rate during peak hours—higher, that is, than the regular rate you'd pay without a TOU plan. If you go with a TOU plan, you'll not only not save money unless you commit to using less energy when demand is high, you'll potentially lose money.The savings can be significant
How to save with a Time of Use utility plan
The key thing about opting into a TOU plan is that you have to shift much of your energy use to those off-peak hours to see any benefit. The “off peak” hours that are cheaper under a TOU plan are set by the utility—you can’t pick and choose when you get the lower rate. You'll have to adapt your lifestyle to fit the plan in order to save money. That means running appliances like dishwashers, washing machines, and vacuums late at night. If you own an electric vehicle, you’ll have to charge it after peak hours. And you’ll need to adjust your thermostat so your HVAC system doesn’t run full-blast during peak hours.
Consider also the fact that you will be using at least some electricity during peak hours, and you’ll likely be paying a higher rate for it. You have to be able to shift enough of your usage into the off-peak periods to really save money, which means it's probably not going to work out if you work remotely or are a big homebody.
How to find a Time of Use utility plan
If you think a TOU plan might work for you, you can contact your current energy supplier to find out if they offer one. You can also check the U.S. Department of Energy’s website, which maintains a listing of utilities that offer some version of TOU on a state by state basis. Just because a program is listed, however, doesn’t mean it’s active: Some utilities have designated opt-in periods, and some are temporary and may not be accepting new customers, so you’ll have to contact the listed utility directly to discuss your options.
Read More Details
Finally We wish PressBee provided you with enough information of ( How to Save Money With a ‘Time of Use’ Utility Plan )
Also on site :