If you’re a budget-conscious consumer, or if you own an electric vehicle or have solar panels on your home, then TXU Energy has a deal for you: a new rate plan with deep discounts on electricity used at night. Residential customers who can make simple lifestyle changes around when they use electricity can achieve substantial savings by tapping into low-cost generation supplies that are available during nighttime hours.
TXU Energy PowerSmart PM 24SM is a three-tiered electricity plan with different rates for nighttime, off-peak and peak hours. Activities that could be moved to nighttime hours include running dishwashers, doing laundry, operating swimming pool pumps and charging electric cars. The plan also makes sense for homes with solar panels, which typically produce their own electricity during peak hours.
“During the summer heat wave, we saw that Texans were willing to reduce electricity usage during peak hours to relieve strain on the state’s power grid,” said Nancy Perry, senior vice president of sales and marketing for TXU Energy. “Our new rate plan offers financial incentives for residential customers to change their energy habits, and it can reduce pressure on household budgets at the same time.”
By providing lower electricity rates during certain hours, “time-of-use” rate plans mimic actual wholesale electricity costs, which vary as total demand fluctuates at different times of the day.
“We’ve structured our new plan so that more than 90 percent of all the hours in a year are off-peak or nighttime hours, and we’re giving customers a lower rate for using electricity at those times,”Perry said.
For example, here is the TXU Energy PowerSmart PM 24SM plan for customers in the Oncor service area:
|Tier||Months||Hours||Rate per kWh*|
|Nighttime||All year||10 p.m. to 6 a.m.||6.8¢|
|Peak||May through October||Monday through Friday 1 p.m. to 6 p.m.||21.9¢|
|Off-peak||All non-peak months||All other times||9.2¢|
* Average price per kWh of 10.1 cents based on average monthly usage of 2,000 kWh.
The TXU PowerSmart PM 24SM plan is available to residential customers who have a smart meter installed at their residence and who live in Oncor or CenterPoint service areas. The 24-month plan offers guaranteed price protection against rising power generation costs; only changes in law or regulatory charges can change your price.
“TXU Energy provides a range of tools that give customers greater choice and control over their electricity usage, and now we’re helping customers achieve substantial savings on electricity by shifting certain tasks to off-peak hours, when total demand for electricity is the lowest,” Perry said. “Doing laundry and dishes at night lets consumers tap into the excess generating capacity the state has during off-peak hours.”
The new time-of-use plan also helps set the stage for electric vehicles (EV) in Texas.
“Since most owners will charge electric vehicles at night, TXU Energy’s new time-of-use plan makes electric vehicles more economical,” said Russ Keene, president of the Plug-In Texas coalition. “Any incentive that spurs EV adoption is a win all around. In addition to curtailing an individual’s gasoline expenses, electric vehicles can improve the state’s air quality and reduce the nation’s dependence on foreign oil.”
For more advice on conserving energy at all times of the day, please visit TXU Energy’s residential energy savings solutions website.
About TXU Energy
TXU Energy is a market-leading competitive retail electricity provider, powering the lives of more Texans than any other retailer. TXU Energy offers a variety of innovative products and solutions, allowing both its residential and business customers to choose options that best meet their needs, including exceptional customer service, competitively priced electricity service plans, innovative energy efficiency options, renewable energy programs and other electricity-related products and services. Visit txu.com for more information about TXU Energy. REP #10004