Published November 5, 2020
On November 1, Xcel launched its two-year Flex Pricing Pilot program in parts of south Minneapolis and Eden Prairie and parts of surrounding communities. Approximately 10,000 customers will take part in the pilot. This program, previously described as a time-of-use rate pilot, was originally scheduled to start on April 1, 2020, but was postponed due to COVID-19.
During the Flex Pricing Pilot, participants’ electricity costs will vary depending on the time of day. Electricity is more expensive to produce during peak times and sometimes requires the use of inefficient and higher-pollution “peaker” power plants. The Flex Pricing rate is designed to reward customers for using less expensive off-peak power and to save money across the utility system.
Specifically, Flex Pricing aims to reduce electricity use during the peak times of 3:00-8:00 PM on weekdays. Rates are noticeably lower during off-peak periods and weekends, and rates are extra low overnight. Customers can take advantage of these rate differences by managing when they use energy and save money, and customers who already use less on-peak electricity than average will see lower bills without shifting their usage at all.
Customers may opt out of the Flex Pricing program at any time. More information and details can be found on Xcel’s webpage.
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