Beatrice Lang
Horry Electric has implemented a new pricing structure that includes peak hour rates. The normal rate is now 0.069$ per kWh, which is almost half of the previous rate of around 0.11$ per kWh. However, during peak hours, the rate is 12$ per kW. Peak hours are when most members use electricity at the same time, typically on hot summer afternoons and cold winter mornings. This new pricing structure gives members more control over their bills, as they can reduce their costs by using less electricity during peak hours. Overall, the impact of this pricing structure on monthly bills depends on individual usage patterns.
| Characteristics | Values |
|---|---|
| Normal rate | $0.069/kWh |
| Peak rate | $12/kW |
| Peak hours | Summer: 3-6 pm, Winter: 6-9 am |
| Peak charge calculation | Based on the highest peak hour usage of the month |
| Daily fee | $0.95 |
| Reduced rate hours | 21 hours/day |
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Peak pricing
During the summer months, from April 1 to October 31, the peak hours are set as 3 pm to 6 pm. Conversely, during the winter months, from November 1 to March 31, the peak hours shift to 6 am to 9 am. These time frames represent the periods when electricity usage is typically at its highest, such as during hot summer afternoons and cold winter mornings.
During these peak hours, members are charged a higher rate of $12 per kilowatt for that specific one-hour period. This charge is applied only once during the billing cycle, targeting the single highest hour of energy usage within the designated peak hours. It's important to clarify that this $12/kilowatt charge is for one hour out of the entire month, not each day.
To provide members with control over their bills, Horry Electric offers a reduced rate for the remaining 21 hours of the day. During these non-peak hours, the per-kilowatt-hour charge is significantly lower, ranging from $0.069 to $0.07 per kilowatt-hour. This reduced rate encourages members to manage their energy usage effectively and shift certain high-demand activities outside of the peak hours.
Understanding peak pricing is essential for members to optimize their electricity usage and control their bills. By being mindful of peak hours and adopting energy-saving practices, members can reduce their overall electricity costs. Horry Electric also provides resources and tips to help customers save on their bills, such as using smart devices to manage energy usage during peak times.
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Off-peak pricing
Horry Electric Cooperative, Inc. offers off-peak pricing to its customers, which can result in significant savings on their monthly electricity bills. The off-peak pricing structure is designed to give members greater control over their energy costs and encourage energy conservation during peak demand periods.
During the summer months, from April 1st to October 31st, the off-peak hours are from 6:00 am to 3:00 pm and 6:00 pm to 9:00 am. In the winter, from November 1st to March 31st, the off-peak hours are all day, except for the peak hours of 6:00 am to 9:00 am. During these off-peak hours, members can use electricity at a highly reduced rate of $0.069 per kilowatt-hour (kWh), which is almost half of the previous rates that ranged from $0.11 to $0.13 per kWh.
To take advantage of the off-peak pricing and minimise their energy costs, members are advised to avoid using multiple high-demand appliances simultaneously during peak hours. This includes appliances such as HVAC systems, electric water heaters, and electric clothes dryers. By shifting energy-intensive tasks to off-peak hours, members can significantly reduce their electricity bills.
Additionally, Horry Electric provides resources and educational tools to help customers understand their energy usage and make informed decisions. The cooperative's website offers a rate calculator, allowing members to estimate their monthly bills based on their usage patterns. Furthermore, Horry Electric encourages the use of smart devices that can help manage energy consumption and optimise savings during peak hours.
By implementing this off-peak pricing structure, Horry Electric aims to align members' costs with how the cooperative is billed for the energy it purchases and distributes. This approach not only empowers members with more control over their energy expenses but also promotes a more sustainable energy consumption pattern by incentivising off-peak usage.
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Reduced rates
Horry Electric Cooperative offers reduced rates to its members. The rates are structured in a way that gives members control of their bills. For 21 hours every day, members can use as much electricity as they need at a highly reduced rate per kilowatt-hour (kWh). The reduced rate is $0.069 per kWh, which is almost half the previous rate of $0.11 per kWh.
However, there are peak hours when rates are higher. During these peak hours, members are charged $12 per kW. The peak hours are when most members use electricity at the same time, typically on hot summer afternoons and cold winter mornings. The summer peak hours are from 3 pm to 6 pm, from April 1 to October 31, and the winter peak hours are from 6 am to 9 am, from November 1 to March 31.
Members can reduce their bills by avoiding the use of multiple high-demand appliances during peak hours. For example, it is recommended to avoid using HVAC systems, electric water heaters, electric clothes dryers, pool pumps, and EV chargers simultaneously during the winter months. By waiting until after the peak hours to use these appliances, members can help keep their peak charges down.
Overall, the reduced rates offered by Horry Electric Cooperative give members the opportunity to use electricity at a lower cost for the majority of the day. By being mindful of their electricity usage during peak hours, members can further optimise their bills and take advantage of the reduced rates.
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$19.95
Peak charge calculation
The peak charge calculation for Horry Electric refers to the cooperative's new rate structure, which includes a peak hour charge. This structure was implemented to better align with how the co-op is billed for the energy it purchases and distributes to its members.
During peak hours, members are charged $12 per kilowatt for one hour per month when energy usage is at its highest. This peak hour is selected from a three-hour time window, depending on the time of year. From April to October, the peak window is 3-6 pm, while from November to March, it is 6-9 am.
The peak charge is calculated based on the highest energy usage during one of these peak hours within the month. For example, if a member uses 5 kW during the 4-5 pm hour on July 15, and that was the highest usage during a peak hour that month, their peak charge would be $60 ($12 per kW x 5 kW). This $60 charge would then be added to the daily 0.95 fee and the kWh used multiplied by the standard rate of 0.069.
It is important to note that the standard rate for electricity usage outside of peak hours is $0.069/kWh, which is a decrease from the previous rate of $0.11/kWh. The peak hour charge is a significant increase, as it is $12/kW, but it only applies to one hour of usage per month. Members can reduce their overall bills by controlling their energy usage during these peak hours.
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Bill estimation
Horry Electric Cooperative, Inc. has a pricing structure that gives members direct control of their bill. For 21 hours every day, members can use electricity at a highly reduced rate per kilowatt-hour (kWh). The reduced rate is 0.069 per kWh. There are three peak hours each day when rates are higher: Summer Peak Hours (April 1 – October 31) from 3 pm to 6 pm, and Winter Peak Hours (November 1 – March 31) from 6 am to 9 am. During these peak hours, the rate is $12 per kW.
The peak charge on your bill is calculated based on your highest energy usage during the peak hours of a given month. For example, if you used 5 kW during the 4-5 pm hour on July 15th, and that was your highest usage during a peak hour that month, your peak charge would be $60 (plus the daily 0.95 fee and kWh used times 0.069).
To estimate your bill, you can use the Rate Calculator provided by Horry Electric. This will allow you to calculate your bill based on your specific usage patterns and the varying rates during peak and non-peak hours.
It is important to note that your bill may vary depending on factors such as the season, your overall energy usage, and the timing of your energy usage. For example, during the winter months, it is recommended to avoid using multiple high-demand appliances simultaneously, as this can increase your peak charge. Additionally, you cannot directly compare your bill to your neighbour's, as their usage patterns and behaviours may differ from yours.
By understanding the rate structure and using the provided tools, such as the Rate Calculator, you can estimate your bill and make informed decisions to control your energy costs with Horry Electric.
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Frequently asked questions
Horry Electric has a two-tier pricing system. For 21 hours a day, members can use electricity at a reduced rate of $0.069 per kWh. However, during peak hours, the rate is $12 per kW.
The peak hours are when most members use electricity at the same time. Summer peak hours are from 3 pm to 6 pm, while winter peak hours are from 6 am to 9 am.
You can avoid paying the peak rate by not using high-demand appliances during peak hours. This includes appliances such as HVAC systems, electric water heaters, electric clothes dryers, pool pumps, and EV chargers.
You can estimate your bill by using the Rate Calculator provided by Horry Electric. This will help you understand how your usage during peak and non-peak hours will impact your monthly bill.
