time of use (TOU)

An electricity billing rate where the rate varies by time. TOU metering divides the day into periods, such as 8:00 AM to 12:00 PM, 12:00 PM to 4:00 PM, and 4:00 PM to 8:00 AM. Each period has a corresponding rate, expressed in terms of $/kWh, where $ is the currency type configured for your rate plans (for example, $0.05/kWh). The rate is usually based on expected average cost (where prices are usually higher during peak periods) and is generally fixed for several months in advance. Rates can also change seasonally. HAN Communications Manager (HCM) supports 24 tiers per day.