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Savings and rates
How are my savings with Rate Flex D calculated?
[What your electricity would have cost at the base rate – [What you paid under Rate Flex D]
Put another way:
A = [Number of kWh used] x [Cost per kWh under the base rate]
B = [Number of kWh used] x [Cost per kWh under Rate Flex D]
A – B = Your total savings
Of course, to make Rate Flex D worthwhile, what you pay must be less than what you would have paid at the base rate.
Remember, in winter, electricity under Rate Flex D is cheaper than at the base rate (making it easy to save!) — except during what are called peak events, which are periods of high electricity demand. To avoid driving up your bill, you need to reduce your electricity use as much as possible during peak events, when each kilowatt-hour costs more.
Ideally, this means avoiding the use of energy-intensive appliances — but more importantly, it means lowering the temperature in your home, since heating can account for up to 80% of your winter electricity bill.
This is where Hilo becomes a valuable ally — automating the management of your connected devices according to the preferences you set. During a peak event, Hilo will automatically lower the temperature on your thermostats and can also manage your water heater and EV charging station.