Following installation of smart meters, customers were automatically enrolled in Time of Use. With the Time of Use rate, electricity prices depend on the amount (in kilowatt hours (kWh)) of energy used during different times of the day. This means that when you use energy is just as important as how much energy you use.
In Colorado, there are three time periods related to Time of Use pricing.
- Off-peak hours (7 p.m. - 1 p.m.): Average customer energy costs are 55% lower than on-peak hours and 40% lower than mid-peak hours to reflect the lower energy production costs during this time.
- Mid-peak hours (1 p.m - 3 p.m.): Energy costs are higher to reflect higher energy production costs.
- On- peak hours (3 p.m - 7 p.m.): Energy costs are highest to reflect highest energy production costs.
Weekends and holidays are billed at the off-peak rate of the current season. For current pricing, please visit xcelenergy.com/TOU.
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Any customer can opt out of the Time of Use rate with a 30-day notice to Xcel Energy. Customers who opt out of the Time of Use rate will be placed on the Residential Opt-Out rate. This rate changes seasonally, regardless of what time the customer uses energy or how much energy they use. In order to formally opt out, customers should call 800-895-4999. For more information, visit: xcelenergy.com/TOU.