Taxing Long Island: PSEG rolling out 'Time-of-Day' rate to all customers
Customers will be charged more for using electricity from 3 p.m. to 7 p.m. Monday through Friday but less outside of those hours.
Top Stories
Editor's Note: A previous version of this story contained rates provided by PSEG. The utility has since updated these numbers. Current rates can be found in this link.
"Time-of-Day" rates are a change to how much PSEG charges you.
Customers will be charged more for using electricity from 3 p.m. to 7 p.m. Monday through Friday but less outside of those hours.
"The thought process here is that anything we can do to help customers shift their usage to times outside of the peak periods allows us to reduce the amount of power that we have to buy during peak times, and then we are able to pass those savings on to our customers," said Lou DeBrino, vice president, customer operations, PSEG Long Island.
The flat rate plan charges about 23 cents per kilowatt hour.
With the Time-of-Day rate, customers will be charged 36 cents from 3 p.m. to 7 p.m. Monday through Friday, 19 cents during off-peak hours, which are Monday through Friday 6 a.m. to 3 p.m. and 7 p.m. to 10 p.m., weekends and holidays.
The overnight rate is 13 cents per kilowatt hour from 10 p.m. to 6 a.m.
PSEG says people can also opt out of the plan if they want.
According to PSEG, about half of their customers are already on the plan.
Each month, more than 90,000 Long Islanders are being converted, and it will finish in December.
After the first year on the plan, PSEG says it will reimburse customers the difference if their Time-of-Day rate is higher than their flat rate.
