Some electrical companies offer FREE electricity during nights and weekends. But, do you really get to save a lot of money because of this offer?
Residential owners are starting to shift to this electricity plan because who doesn’t want to take advantage of free, right? But before we discuss the potential issues, let’s look at why this plan is offered by several electricity providers. One, when people use their electricity during off-peak periods, the consumption is equalized all throughout the day, decreasing chances of outages. This will help in keeping the prices and services stable. Indeed, it can really be a good deal not just for electricity company but to residential clients as well if they want to ensure that they won’t experience electrical problems when the demand is too high.
What are the Problems Associated with the Electricity Plan?
However, consumers get higher charges during peak hours. For example, the average price of electricity is from 8.4 to 14 cents. When you have agreed to the free nights and weekends plan, you will be charged about 17.7 cents, which is undoubtedly double the usual price. Because of that, the free hours you have saved will be compensated. It can only be beneficial to you only if you are outside your home during the peak hours and all your appliances are turned off.
According to the flyers and other marketing materials shown by these companies, residential owners spend 30-40% of their electricity consumption during the night. Some people might think that they are saving that huge percentage if they will shift their plans. Unfortunately, they don’t actually see the idea that about 60-70% is spent during the daytime. If you are outside your home during the weekends to travel or hang out with your family, or if you sleep as early as 9 in the evening, then you might not feel the saving after all. In fact, some people get even more surprised upon seeing the sudden upsurge in their electricity bill.
So, who should take advantage of this new electricity plan?
• You work during night time and spend your day at home sleeping.
• You do your laundry, lawn mowing and so on during weekends.
• You don’t use your air conditioner all throughout the day.
Before you sign the contract, make sure to review the fine print of the plan. This will help you assess whether it can really be a good option for you before you lock yourself into a contract.