Peak-Time Payback is GVEC’s demand response program. Upon sign up, you’ll be entitled to a one-time $85 bill credit. Most participants receive this credit on the first electric bill after enrollment. If you sign up on or before May 31, you’ll get another $30 bill credit in October. That’s $115 in savings for the first year; however, you must sign up by May 31 to get the $30 credit for 2021. The one-time $85 credit is available any time of year.
What are Peak Times? When do They Happen?
These are times during the intense heat of Texas summer when electricity demand “peaks”—times when people are getting home from work and school, turning down the air conditioner, starting dinner, running the dishwasher and generally consuming large amounts of electricity.
Peak times occur between 3 and 7 p.m., June 1 to September 30. ERCOT (Electric Reliability Council of Texas) uses the amount of electricity consumed during peak times to help determine transmission rates for individual providers the following year. Lowering the amount of energy used during peak times helps GVEC keep rates stable.
How Does Peak-Time Payback Work?
To be eligible, you need a Wi-Fi enabled Nest® Thermostat or an Ecobee SmartThermostat connected to your AC/heating system. If you don’t have one, GVEC offers models from both brands. We do installation, too, and will get you set up to participate—just call us!
Participation allows your Nest or Ecobee to precool your home in the hours just before each peak time. During the event, you remain comfortable, thanks to precooling. Once your home gets two degrees above the original thermostat setting, the unit automatically cycles back on. Adjusting your thermostat temperature during peak times helps decrease the overall amount of electricity used across the grid.
Enroll by May 31 for $115 in First-Year Savings!
Every year you participate between May 31 and September 30, you’ll get another $30 October bill credit. But remember, to qualify for the October 2021 $30 credit and get $115 in first-year savings—including a one-time $85 credit—you must sign up by May 31. To learn more, visit gvec.org or call 866.684.2359.
