Residential Time-of-Day rates
Black Hills Energy has implemented a new electric rate, called the Time-of-Day rate, or TOD rate for short, to give you more control over your electricity use and provide opportunities to save money on your bill through peak and non-peak energy pricing.
Under the Time-of-Day rate, when you use electricity is just as important as the amount used, because the price charged per kilowatt-hour depends on the time of day that electricity is used.
The residential Time-of-Day on-peak period is from 5 p.m. to 8 p.m. during weekdays and non-holidays. Power costs two times more during these hours. All other times are lower priced hours, or the off-peak period.
Learn about the residential Time-of-Day rate:
This rate schedule will apply to all the energy consumed at the residence, or what’s called a “whole house rate,” meaning not just the energy used to charge your EV, but also the energy used to do things like run the dishwasher, do laundry, and watch TV. It starts with a $8.77 flat monthly fee, which is the same as for our current RS-1 residential customers. Then, the charge per kilowatt hour depends on the time of day you use the energy.
- Energy used during weekday non-holidays from 5 p.m. to 8 p.m. will be charged a higher on-peak rate, with lower, off-peak rates charged for use during all other times.
- The TOD component is designed to create an on-peak to the off-peak ratio of 2:1. This allows TOD customers to save up to twice as much on your electric bill when you use electricity during off-peak hours, as compared to on-peak hours.
The whole home RS-EV rate is available to all residential customers, whether they elect to purchase and install an EV charger and apply for a rebate. Income-qualified customers receiving a rebate will have the ability to opt out of the RS-EV rate after one month.
See how small changes to your energy consumption habits can add up to savings
Note: The following scenarios are based on an energy price per kilowatt-hour (kWh). Electric vehicle charging costs are calculated using a 240-amp Level 2 charger with an output of 7.2 kilowatts or 7,2000 watts of electricity per hour. Estimated energy costs for appliance usage are calculated based on average electricity output for each type of appliance.
Scenario one
Overview: Your electric vehicle is charging in the garage for four hours, while you’re inside watching TV with your partner for that same amount of time. For an hour your dishwasher is running, and you have a load of laundry in the washing machine for that same amount of time.
Estimated energy costs:
- TOD on-peak: $7.59
- TOD off-peak: $3.80
- Standard (non-TOD) rate: $4.98
By shifting your EV charging and appliance usage to before or after the on-peak period of 5 p.m. to 8 p.m., you could save 50% on your energy bill in this scenario. Compared to the standard Black Hills Energy electricity rate, you’d save 24% during off-peak hours.
Scenario two
Overview: On a hot summer day, you have your AC on for eight hours, and your electric vehicle is charging in your garage for that same amount of time.
Estimated energy costs:
- TOD On-peak: $20.09
- TOD Off-peak: $10.05
- Standard (non-TOD): $13.17
By not charging your EV between 5 p.m. and 8 p.m. and shutting your blinds to keep out heat, instead of using the air conditioner during the day, you could save 50% on your energy bill. Compared to the standard Black Hills Energy electricity rate, you’d save 24% with the TOD off-peak rate.
Scenario three
Overview: You just got home from work and plug your electric vehicle in to charge for six hours.
Estimated energy costs:
- TOD On-peak: $10.38
- TOD Off-peak: $5.19
- Standard (non-TOD): $6.80
By shifting your EV charging to before 5 p.m. to 8 p.m. during the summer, you could save 50% on your energy bill compared to on-peak charging and 24% as compared to the standard Black Hills Energy electricity rate.
