PNM offering new special ‘Time of Day’ rate for some customers
NEW MEXICO (KRQE) —It could be a way for thousands of New Mexicans to cut down on their electric bill, depending on when you turn on the lights. PNM is launching a different rate structure for some customers who avoid using power during peak times.
“Previously, it was just the standard rates that we still have; but this was something that our customers and the PRC asked for. So, we have implemented it,” says Terri Reishus, spokesperson for PNM.
For the first time, New Mexico’s largest energy provider is letting people have a say in how much they pay. PNM is introducing a new ‘time of day’ rate, allowing people to be charged different rates for power throughout the day to decide when they want to plug in.
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“The on-peak times are 5:00 a.m. to 8:00 a.m. and 5:00 p.m. to 8:00 p.m.; and if you think about it, those are the times people are getting ready to go to work or school, and in the afternoon that’s when people are coming home from work and getting things done,” Reishus says.
PNM says if you wait until after those peak hours, you could save some cash. “So if you can just wait until after 8:00 p.m. to do your dishes or do laundry, that’s how you’ll save money,” Reishus says.
Residential and small business customers are eligible, and signing up includes a free meter install that lets you track exactly how much power costs throughout the day through your phone. “So, you can look at it and say ‘Oh wait, I’m using too much right now. Let me turn that off,'” Reishus says.
The program started three months ago and so far, roughly 400 people have signed up. People we spoke with say they’d be on board to try it, too. “I think that it’s a good idea because we gotta get our electric rates down a little,” says Albuquerque resident Patricia Page. “Yeah, I’d try it out.”
Just how much could you save? That’ll depend on your usage. “I mean, five dollars is five dollars if you save it. You know, and that’s just a ballpark figure,” Reishus says.
PNM customers can calculate what their potential savings would be by heading to the PNM website, going to ‘My Account,’ and clicking ‘Account Summary.’ From there, a ‘Time of Day Rate’ section will have a link to the calculator.
Right now, PNM says only 7,500 people will be allowed to enroll in the newer program. PNM shared the following ways customers can shift their energy use away from on-peak hours of 5 to 8 p.m.:
Using washing machines and dishwashers during off-peak hours.
Pre-heating or cooling your home outside of on-peak hours.
Setting the thermostat for your air conditioner at a higher temperature when running.
Turning off all but essential lighting.
Customers can sign up and be pre-enrolled at pnm.com/timeofday.
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