Time of Use Rate

When we designed the Time of Use Rate, our overall goal was to create a ‘win-win’ scenario to both the member and the cooperative. We knew that if we designed the rate correctly, members would respond to lowering their overall usage during the times when power is the most expensive to purchase, saving both the member and the cooperative money on their bill. By simply shifting some of the times you normally do daily tasks and chores to off-peak times, you pay a much lower kilowatt-hour charge. The TOU rate is also a great way to take advantage of smart home automation and electric vehicle technology.

During on-peak times of 7:00-10:00 a.m. and 4:00-9:00 p.m., a higher rate of $.1615/kWh is charged. During off-peak times of 10:00 a.m. – 4:00 p.m. and 9:00 p.m. – 7:00 a.m., a much-reduced rate of $.0584/ kWh is charged. The programmed times are seven days a week. Members receiving the reduced electric heat rate of $.0635/kWh remain on that program so heating costs will not fluctuate.

1. Shift laundry/dishwashing to off-peak times
2. Use a smart thermostat to control home’s heating/cooling
3. Utilize smart appliances/lighting to run at certain times or be controlled remotely
4. Use alternative appliances to cook like air fryers, rotating pizza ovens, microwaves etc
5. Schedule electric vehicle charging to off-peak times
6. Install automatic timers--water heaters, circulating pumps, pool pumps, lighting etc
7. Practice conservation – turn off lights/electronics in unoccupied rooms, set water heater to 120 degrees, wash clothes in cold water, and use power strips/smart plugs to avoid phantom power loads. Visit our website (my programs/energy efficiency tools) to check out resource booklets ‘101 Easy Ways to Save Energy and Money’ and ‘Use Energy Wisely’.
8. Sign up for Smarthub, free account management tool, to review/compare usage history to help set energy goals. Get the whole family on board for being energy savers during on-peak times.

At the top of each monthly bill is a red notation to let you know what you saved compared to the old regular rate program.

Recent analysis of current accounts on the Time of Use rate show we have been successful so far in saving money for the vast majority of members while also reducing our overall billed demand to Sioux Valley Energy. We offer a three-month risk-free trial to help you get acclimated to the new rate without the risk of paying a higher bill. If the rate does not work for your family, you simply need to call into member services to request a change back to the regular rate. Several employees who are also SVE members have tried the new rate. As I write this column, I’ve been on the rate for eleven months, shifting laundry and dishwashing, and have saved money every month – total savings of $106.41 (highest month savings of $13.84). Ted Smith, VP of Engineering and Operations, has been on the rate since July 2017. He shifts laundry and sets his programmable thermostat with a four-degree allowance during peak times. He shared, “I have saved a total of $430 since I’ve been on the program. This is approximately $100 to $150 per year so I basically get free electricity for about one month a year.”

For further information or to sign up for the TOU trial rate program, contact member services at 1-800-234-1960. The TOU rate is currently available for residential and general service accounts including former Alliant Energy customers. Co-generation accounts can also utilize this rate.