Hawaiian Electric Companies’ Time-of-Use rates program is up and running.
Hawaiian Electric Companies’ Time-of-Use rates program is up and running.
The program charges rate payers less for power consumed during daytime hours, during which time solar energy production peaks, and more during evening hours.
The intent of the program is to push usage via activities such as cooking, laundry or charging electric vehicles to daytime hours in an effort to reduce customers’ energy bills. The amount of savings is related to the amount of energy usage customers can transition from evening to daytime, and thus may not be beneficial for all.
As of Oct. 28, just more than a week since its implementation, the program has attracted 508 customers. The lion’s share of those are from Oahu, while other rate payers from Maui and Hawaii Island make up the difference.
The capacity of the program, developed under direction from the state Public Utilities Commission, has been set at 5,000 rate payers.
The program is voluntary and is currently slated to run for two years. Customers who sign up will be provided with comparative data on their bills to gauge the program’s effectiveness as applied to their specific energy needs. Any rate payers who sign up have the option of opting out at any point if they feel the program is not beneficial for them.