What is Time-Of-Use Pricing?
Time-Of-Use (TOU) Pricing is an optional, generation-only rate for AMI-metered, non-CAP residential and small commercial customers. Time-Of-Use Pricing offers different prices according to a pre-determined schedule of peak and off-peak hours and prices (unlike real-time / market pricing). Customers pay more for usage supplied during peak hours but also less for usage supplied during off-peak hours.
Why is PECO offering this rate?
PECO, along with government and community leaders, are exploring new energy supply rates that are made possible by smart meters and can help customers save money and energy.
Why are Time-Of-Use Pricing's electricity costs different throughout the day?
Usually the price of electricity is less expensive at night than during the daytime. This rate is designed to reflect the costs of electricity throughout the day. Time-Of-Use Pricing’s super off-peak rate is intended to encourage customers to shift their energy use from peak periods to periods where the demand for energy – and its price – are typically lower.
Time-Of-Use Pricing periods are blocks of time that vary by day type (weekday/weekend/holiday) and hours of the day. The generation price is different in each of these three blocks.
PECO Time-Of-Use Pricing offers three pricing periods:
Why has the meter multiplier on my bill changed from 1 to 2?
When your account switches to the TOU rate, the value presented on your bill under the meter multiplier reflects the actual meter multiplier x 2 due to the internal calculation of interval load data required for TOU.
How do I find more information about TOU and if I am eligible for this rate?
Please visit our website at www.PECO.com/TOU for additional information and tools that can determine your eligibility and help you evaluate if the TOU rate is right for you. You can also easily enroll by signing into your PECO online MyAccount.
Why is the Peak period so expensive?
The price during the Peak period reflects the cost of energy during hours of the day when electricity is most often in highest demand. The higher cost ensures that enough generation capacity will be online and available to satisfy the higher demand.
What happens if I enroll, but find I am spending more than I would have on PECO's fixed-price rate?
You may leave Time-Of-Use Pricing at any time without penalty. Please note that depending upon the timing of your unenrollment request, it may take up to three billing periods for you to return to PECO’s fixed-price rate (if you do not choose an alternative supplier). In addition, you will not be eligible to return to Time-of-Use Pricing for 12 months
How long does it take for the Time-Of-Use Pricing rate to begin after I enroll?
Depending upon the timing of your enrollment submission, it may take up to three billing periods before you begin receiving energy supply under Time-Of-Use Pricing.
How will I know if I'm saving on Time-Of-Use Pricing?
You will receive monthly savings reports via email that compare the price you are paying to what you would have paid on PECO's fixed-price rate. Additionally, you can view other helpful usage and cost data on your Time-Of-Use Pricing dashboard available in your PECO online MyAccount.
How does the Residential Rate Comparison Tool in my PECO online MyAccount work?
The Residential Rate Comparison Tool examines your historical usage data and estimates how much you could expect to pay over the next 12 months under both PECO's fixed-price rate and PECO's Time-Of-Use Pricing rate. However, the more you can avoid using electricity during the Off Peak and Super Off Peak periods, the more you could potentially save with Time-Of-Use Pricing. Also try the Rate Simulator to see if additional behavioral changes could increase your savings potential.
Am I required to own a plug-in electric vehicle (EV) to participate in Time-Of-Use Pricing?
No. Time-Of-Use Pricing is a great option for customers who can charge their EVs overnight, but any PECO customer can participate in the Time-of-Use Pricing rate. Note that Time-Of-Use prices apply to ALL of the energy used at your home or business, and not just by an EV charger.
I have a detached garage on my premises. Can I enroll my detached garage on Time-Of-Use Pricing, while keeping my home or business on the standard fixed-price rate?
PECO will allow this only if the detached garage is metered and billed separately from your primary home or business building. If both buildings are served by the same meter, you will need to provide a separate meter box and then contact PECO for an application for service for the detached garage. You will be expected to pay a service activation fee.
Must I have an online PECO MyAccount in order to enroll in Time-Of-Use Pricing?
No, but PECO strongly recommends that you can use the tools available in your online PECO MyAccount to help maximize your savings.
Must I have an email address in order to enroll in Time-Of-Use Pricing?
Yes, you must have an email address to enroll on Time-Of-Use Pricing so that PECO can provide you with related communications . PECO will use e-mail to respond to your requests for enrollment or un-enrollment and to help you better understand and more effectively manage your energy usage and related costs while enrolled on Time-Of-Use Pricing.
Is PECO the only entity offering Time-Of-Use rates?
Not necessarily. Other electric suppliers may also be offering Time-Of-Use rate plans to customers with different pricing periods and rates. Visit www.PAPowerSwitch.com for more information and a list of electric suppliers.
