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It’s About Time!
Supply and demand.
It’s a lesson we learn as kids in school, and a life principle that we experience as adults every time we make purchasing decisions.
But did you know electricity prices are also subject to the laws of supply and demand?
We talk a lot about how you use your electricity in terms of efficiency, but when you use it also makes a difference. From 3 -7 p.m. on weekdays as people are getting home from work and school, the house “wakes up” and electric usage increases.
So when demand goes up, prices follow. You don’t see that in your monthly bill because we purchase power on your behalf from our power supplier, and provide a fixed annual rate for that portion of your bill. However, because power is purchased on the open market, the actual costs are often more or less than what we budget, so any overcollection or undercollection is ultimately passed on to you as the Power Cost Adjustment line on your bill.
So what’s the bottom line? When you help us save on our monthly power supply bill, you and other consumers ultimately stand to benefit. It’s about time and you can help!
Anything that we can do as consumers to manage system load during times of peak usage helps keep costs down. So from 3-7 p.m.:
- Wait to run your washing machine or dishwasher
- Hold off on showers and baths
- Avoid watering your lawn or other activities that use a water pump
- Keep your thermostat set a little higher or lower (depending on the season)
These tips, combined with regular efficiency efforts, will help keep power supply costs down.
It’s about time.
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