Time of use pricing
A system of pricing in which the cost of each kW*h of energy used is different at different times of the day. There are off-peak, mid-peak, and on peak-pricing; each more expensive than the last. These prices are adjusted twice a year for summer and winter electricity use. It is also always off-peak pricing on the Weekends and on any holiday. This pricing method encourages people to use electricity at off-peak hours when it is cheaper to generate electricity.