Could the new time-of-use rate save you money?

A member charges their carCoastal Electric Cooperative recently rolled out a special time-of-use rate, designed primarily to save electric vehicle (EV) owners on their electric bills and encourage beneficial off-peak charging—a win-win.

Members who choose to opt into this time-of-use rate enjoy lower rates during off-peak hours and super-off-peak hours, which allows them to save money when they charge their EVs overnight.

Charging EVs at home is an easy option, according to Alan Shedd, director of emerging technologies for Oglethorpe Power Corp., the primary power supplier for Georgia’s electric membership cooperatives. Instead of remembering to stop by a gas station to refill, a consumer can take 5 seconds to plug in at home; and the next morning, their vehicle is fully charged and ready to go.

“We want to encourage people to charge at home,” Shedd says. “We also want to encourage people to charge in the middle of the night, when the demand for electricity is low. It C Could the new time-of-use rate save you money? costs less for the consumer, it’s better for the grid and it’s better for the environment.”

Beyond EV owners, the time-of-use rate is available to any Coastal Electric member who wants to lower their electricity bills by shifting use to off-peak times. For example, a member with a swimming pool could adjust their pool pump to run only at night to take advantage of off-peak rates.

Coastal Electric is now installing customized meters for members signed up for the new time-of-use rate. For more information or to sign up, give energy adviser Jason Smith a call at (912) 880-2232 or email Jason.

Peak and off-peak hours are shown on a chart