Optimize Your Electric Bill: Why Nighttime is the Right Time with OEC’s EV Rate!
In 2020, OEC’s board of trustees added a new rate to OEC’s catalog of rate options, initially for members who own an electric vehicle (EV). This rate is beneficial for all who tend to consume a lot of power during the overnight hours.
“This residential rate focuses on the time of day electricity is consumed and is most beneficial to those with electric vehicles or large appliances that are programmed to operate overnight,” said Key Accounts Specialist and resident rate expert Tim Ferree. “While we call it the ‘EV rate’ it’s also ideal for those willing to divert energy consumption to evening and overnight hours.”
The price per kilowatt-hour (kWh) drops significantly between 9 p.m. and 5 a.m., the prime EV charging time for those with at-home charging capabilities. Residential members who experience high consumption overnight could reap the benefits as well.
“We are able to offer lower overnight kWh rates because power is produced at a lower cost during those hours,” Ferree said. “Temperatures are cooler and air conditioners are working less, which allows the grid to recover from the strains of a hot summer afternoon. Plus, overnight electricity is generated mostly by wind power — a relatively inexpensive generation resource.”
Members able to shift high energy use (i.e. clothes dryer, HVAC, electric car charging, etc.) to the hours of 9 p.m. to 5 a.m. will experience the most savings. Read more about this rate and switch to it by visiting okcoop.org/ev-rate.
Those looking to explore all of our rate options may visit okcoop.org/rates. Residential members may switch rates once in a 12-month period via the above link or by calling our Member Service team at 405-321-2024.
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