This November the electric rate structure for all small and medium business owners will transition from a flat rate to a Time Varying Pricing (TVP) structure. How will TVP affect your business? Customers will have two pricing options. The first, Time-of-Use, means that electric rates will be higher during summer weekday afternoons when electricity demand is higher. When electricity demand is lower, customers will pay a lower electricity rate. The second option, called Peak Day Pricing, combines time-of-use rates with Peak Day Pricing Event Day surcharges and summer credits. The new rate structure not only helps businesses to become aware of how much electricity they use, but stresses the importance of when they use it.
Time Varying Pricing has already taken effect for large commercial and industrial customers in PG&E territory, many of whom have managed to gain financially from the new structure. By upgrading facilities with energy efficient equipment and employing more energy efficient behaviors, these customers have been able to lower their overall consumption while shifting energy demand to cheaper, off-peak hours.
Businesses can leverage Sonoma County’s local programs to help identify and pay for no and low-cost ways to upgrade facilities. One such program is Sonoma County Energy Watch (SCEW), a partnership between the County and PG&E that offers free energy audits, rebates and incentives, technical advice, and project facilitation to make upgrading your business as seamless as possible. Programs including the Sonoma County Energy Independence Program (SCEIP)and PG&E’s on-bill financing can help customers to cover the initial investment of a project. For more information on how your business will be affected by Time-Varying Pricing, visit www.pge.com/mybusiness or call your local account representative today.
Kate Collins, CEO