see discussion under “ Electric Meter

The pricing of electricity based on the estimated cost of electricity during a particular time block, either time-of-day or by season.

The pricing of electricity based on the estimated cost of electricity during a particular time block. Time-of-Use rates are usually divided into three or four time blocks per twenty-four hour period (on-peak, mid-peak, off-peak and, sometimes, super off-peak) and by seasons of the year (summer and winter). Real-time pricing differs from TOU rates in that it is based on actual (as opposed to forecasted) prices which fluctuate many times a day and are weather-sensitive, rather than varying with a fixed schedule.

Rates charged to customers based on when they use electricity during the day and how much electricity they use.