Electric bill terms: O
4 terms from electricity bills and tariffs that start with O, in plain words: Off-peak, On-peak, Optional rate, Over-collection.
- Off-peak Time of use
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The hours with a lower price on a time-of-use rate, for example nights and weekends.
Also called: off-peak hours.
See also: On-peak, Super off-peak.
- On-peak Time of use
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The hours with the highest price on a time-of-use rate, usually late afternoon and evening on weekdays.
Also called: on-peak hours, peak hours.
See also: Off-peak, Time-of-use rate (TOU).
- Optional rate Rate structures
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A rate plan that a customer can choose in place of the default plan. Some optional plans have a contract term or need a special meter.
See also: Default rate.
- Over-collection Riders and adjustments
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When a rider collects more money than the real cost. The utility returns it later as a lower rate or a credit.
Also called: overcollection.
See also: Reconciliation.
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These definitions are general. The tariff of your utility gives the exact rule and the amount. Each calculator page on this site links to the tariff sheets. If a term is missing, send it to contactus@utilityratecalc.com.