Santee Cooper Board Authorizes Two New "ChargeSmart" EV Rate Plans
Experimental, time-of-use rates will be available to customers beginning mid-December.
MONCKS CORNER, S.C. – The Santee Cooper Board of Directors yesterday approved “ChargeSmart,” a program featuring two new, experimental rates to help residential customers who own or lease electric vehicles (EVs) and charge them at home. The time-of-use rates offer deep discounts for charging overnight, when system energy use is generally lower, and could reduce customers’ energy bills.
“More and more Santee Cooper customers are purchasing or considering purchasing EVs, which cost less to fuel – and much less if a customer charges smartly,” said Jimmy Staton, Santee Cooper President and CEO. “The ChargeSmart EV rates incentivize customers to charge their vehicles overnight, which can reduce their bills and help keep Santee Cooper’s electric demand from increasing during daytime peak hours. Overall, ChargeSmart is a smart choice that benefits all customers.”
Residential customers with EVs can choose to enroll in one of ChargeSmart’s two rate plans. These time-of-use plans feature different prices for electricity depending on the time of day the electricity is being used:
- REV (Residential Electric Vehicle Power Rate) is a whole-house rate that covers both the EV charging and electricity used in the rest of the house. On-peak electricity consumption costs more than standard residential rates, but consumption during off-peak hours and the six-hour overnight super off-peak charging timeframe is priced lower than standard rates. A typical customer can save as much as 70% in EV charging costs compared to the standard residential rate.
- EVO (Residential Electric Vehicle Power Only Rider) requires installation of a separate meter for the EV charging station and applies only to electricity used to charge the vehicle. On-peak electricity consumption costs more than standard residential rates, but consumption during the off-peak hours and eight-hour overnight super off-peak charging timeframe is priced lower than standard rates. A typical customer can save as much as 58% in EV charging costs compared to the standard residential rate.
“Because the concept of paying different prices for electricity at different times of day may feel complicated, we have Residential Energy Advisors on standby to help customers analyze their usage and decide which rate works best for them and their lifestyles,” said Staton.
ChargeSmart is part of Santee Cooper’s EmpowerSC suite of programs, which includes EmpowerAuto home charger rebates and EVolve grants to support commercial EV programs. Although ChargeSmart will not be available until mid-December 2022, residential customers who have EVs or are considering purchasing an EV can contact Santee Cooper at any time to discuss their rate options. Residential Energy Advisors can be reached at firstname.lastname@example.org or 800-804-7424 ext. 3910.
Customers also can learn more at www.santeecooper.com/ChargeSmart.