Time-of-use rates bring high levels of satisfaction
- Homes with time-of-use (TOU) rates are more satisfied with their electric service, according to Parks Associates, a consulting firm.
- For example, among people that have rates with free nights or weekends, 53% are “very” satisfied with their electric services, but only 34% without this TOU service are very satisfied.
- In the last year, 5% of homes with broadband switched to TOU rates, according to Parks Associates.
Most consumers think TOU rates will increase their electric bills, according to Parks Associates. “But once a home with a TOU plans adapts consumption patterns to off-peak times, consumers will see lower electricity bills, which could contribute to higher satisfaction,” Tom Kerber, Parks Associates director for energy and home controls research, said.