What does off-peak mean?
Definition of off-peak : not being in the period of maximum use or business : not peak telephone rates during off-peak hours.
What does peak pricing mean?
Peak pricing is a form of congestion pricing where customers pay an additional fee during periods of high demand. Peak pricing is most frequently implemented by utility companies, which charge higher rates during times of the year when demand is the highest.
What is the meaning of off-peak hour?
From Longman Dictionary of Contemporary Englishˌoff-ˈpeak adjective especially British English 1 off-peak hours or periods are times that are less busy because fewer people want to do or use something OPP peak Telephone charges are lower during off-peak periods.
Is off-peak cheap?
Off-Peak fares are cheaper tickets for travelling on trains that are less busy. Where there is more than one Off-Peak fare for a journey, the cheaper fare with more restrictions will be called Super Off-Peak.
What is meant by peak and off-peak?
adjective. During a period of less use or demand than the maximum (peak), generally overnight. Phone calls on weekdays between 18:00 and 08:00 the following day are charged at an off-peak tariff, lower than peak, but higher than weekend.
What is off-peak and on peak?
On-Peak hours are the hours that electricity use is typically the highest- Monday-Friday from 8 a.m. to 10 p.m. During those hours, the standard rate will be increased by $0.04870 per kWh. Check it out: During a typical week, 98 hours are off-peak and only 70 hours are on-peak.
What is peak and off-peak demand?
Peak demand is considered to be the opposite to off-peak hours when power demand is usually low. There are off-peak time-of-use rates. Shoulder is often the time between peak and offpeak in weekdays. Weekends are often just peak and offpeak in terms of managing electricity loads for the network.
What is off-peak season?
The least busy season is known as the “low season” or “off season,” while the busiest season is called the “high season” or “peak season.” Prices on everything from airfare to hotels are at their highest during peak season, and crowds are bigger, too.
What is the meaning of off peak?
Definition of ‘off-peak’. off-peak. You use off-peak to describe something that happens or that is used at times when there is least demand for it. Prices at off-peak times are often lower than at other times.
What are off-peak fares and how do they work?
Off-peak fares are cheaper prices for travelling on trains that are less busy. It’s cheaper to travel off-peak. In off-peak seasons, the main tasks of casual workers are weeding the rows of planted cotton and maintaining irrigation canals.
What is an off-peak price?
Off-Peak Price means the Energy Price for an Off Peak Trading Interval. Off Peak Trading Interval is any Trading Interval that is not an On Peak Trading Interval. Off-Peak Price means, for an Off- Peak Hour:
What are peak and off-peak pricing algorithms?
Algorithms will often be used to estimate or predict peak vs. off-peak times and rates. Users of ride-sharing services, such as Uber and Lyft, are also familiar with peak or “surge” pricing, which raises fares during periods of high demand for rides and lower supply of drivers.