Time-of-use rates bring high levels of satisfaction

Dive Brief:

 

  • 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.

Dive Insight:

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.

Recommended Reading:

Market Wired: Parks Associates Announces New Consumer Satisfaction Research on Time-of-Use (TOU) Electricity Billing and Variable-Rate Pricing at 2014 Smart Energy Summit

 

http://www.utilitydive.com/news/survey-time-of-use-rates-bring-high-levels-of-satisfaction/229382/