Time Of Use(TOU)
Time-of-use (TOU) pricing is an electricity rate structure that charges different prices for using electricity during different times of the day. Electricity is typically more expensive during peak demand hours and less expensive during off-peak hours.
Tiered
Tiered pricing is an electricity rate structure that divides usage into different tiers or blocks depending on power consumed. Each tier has a different rate per unit of electricity, with the rate typically increasing as usage goes up.
Fixed
A fixed-rate electricity plan charges the same rate per unit of electricity used, regardless of the time of day or the amount of usage.
Peak Demand
Peak demand refers to the highest level of electricity demand in a given period, usually a day or a year. Utilities often charge higher rates during peak demand periods to encourage conservation and manage the strain on the electrical grid.
Battery Bonus
A battery bonus is an incentive or discount provided by an electricity provider for customers who have installed on-site battery storage systems. This encourages the use of battery storage to help manage grid demand and support renewable energy integration.