Time-Variable Pricing

Time-variable pricing is a pricing strategy where the cost of a product or service changes depending on when you buy or use it. For example, electricity rates might be higher during peak hours when demand is greatest, and lower during off-peak times when usage is less. This approach encourages consumers to shift their usage to less busy times, helping to balance demand and reduce strain on resources. It allows providers to manage supply more efficiently and can lead to cost savings or benefits for consumers who plan accordingly.