Time of Use pilot program – save up to 25% on your electric rate

Would you like to save up to 25% on your electric rate?

Wake Electric is offering a limited time savings program to 250 participants only. Wake Electric’s regular residential rate is 10.944 cents per kWh.  Wake Electric’s residential “time of use” off-peak rate is 8 cents per kWh, a 26.9% discount.

  • The off-peak rate applies for 22 hours per day (Monday – Friday) and all day on weekends and holidays.
  • The on-peak rate period is 6 a.m. to 8 a.m. in winter and 5 p.m. to 7 p.m. in summer.  That means the off-peak rate applies to 94% of the hours in a year.
  • See Wake Electric’s rate schedule for details.  Rates are always subject to change.

What’s the catch?

The “time of use” on-peak rate is really expensive at 40 cents per kWh.  In order to save money, you’ll need to avoid using as much electricity as possible during that two hour on-peak period.  Many members use a water heater timer and thermostat set-backs to do this automatically.  Of course, avoid doing laundry or running the dishwasher as well.

How can your co-op offer such a deep discount for 94% of the time?

Because much of our variable cost is determined during the other 6% of the time when members usually use the most electricity and electric loads are the highest. The electric distribution system is designed and built to operate during that 6% of the time.  New electric generation facilities are built to provide power during that 6% of the time.

Here’s a quick video that explains exactly how “time of use” works:

Not sure if the “time of use” rate will work for you?

No problem. Try it out for a year at no risk.  As a pilot program limited to 250 participants and for a limited time only, the co-op will offer a money-back guarantee.  See the pilot program terms below for all of the details.

If you don’t save money during the first year, Wake Electric will refund the difference between what you paid under the time-of-use rate and the amount you would have paid under the regular residential rate.

For more details and information or to sign up, call 919.863.6300 or 800.474.6300.

Residential Time of Use Pilot Program Details:

  • Wake Electric is seeking 250 members willing to give the rate a trial run.  If you are currently billed on our Schedule R (standard residential rate), or are connecting a new residential account, you are a eligible for our trial program.
  • Beginning June 1,  you may convert your existing standard rate residential account or sign up a new residential account on Schedule R-TOU with no obligations.  Don’t wait.  You must be one of the first 250 applicants between June 2016 and May 2017 to be accepted into the offering.  You will be billed on R-TOU for 12 consecutive months unless you choose to be removed prior to the end of your trial.
  • Monthly and Year-to-Date savings/loss will display on your monthly bill.  If at any time during the 12-month trial period you decide not to continue being billed on time-of-use, simply contact us for conversion to our standard residential rate with no obligations.  If it is determined at that time you paid more on Schedule R-TOU as compared to Schedule R, your account will be credited the difference.  Once you have requested removal from the trial program for a particular account, that account is no longer eligible for the offering.
  • Please note that you must contact us prior to your 13th month billing in order to qualify for a refund (refunds will be based on overall savings/loss calculations from the initial month to time of request provided it is within the first 12 months of billing).
  • To cancel, contact customer service at 919.863.6300 or 800.474.6300.  If we have not heard from you by the end of the 12-month trial period, your 13th month billing will continue on time-of-use.    No refunds will be available after the trial period and members continuing on the rate must adhere to contract period requirements as noted in the Schedule R-TOU.  For specifics, refer to our Schedule R-TOU available on our website at www.wemc.com.

For more details and information or to sign up, call 919.863.6300 or 800.474.6300.

Our trial Time-of-Use offering is not available with the following rates: Electric Vehicle, Prepay or Generation accounts.