Date: May 2024

Shortly after installing smart meters, PSEG Long Island deployed four voluntary Time-of-Use rates, with different peak windows, rate structures, and prices to their customers rate options and the ability to shift loads. PSEG targeted structural winners and enrolled 12,000 customers across the four rates in the first year, with an outsized share of the sites having electric vehicles. The study addresses several key questions: Which rates did customers elect? What are the characteristics of customers who opt for time-of-use rates? Did customers shift loads? And by how much? Do structural benefiters deliver demand reductions? How did the rates affect customer bills? How did the load reductions and bill impacts vary by rate? Did the participation, load impacts, and bill impacts differ from sites with and without electric vehicles? Do time-varying rates work when paired with mechanisms to reduce bill volatility?

Speakers:
Josh Bode, Demand Side Analytics
Tim Larsen, Demand Side Analytics