That's very inexpensive compared (obviously) to what we have here in California. In the San Diego Gas & Electric territory they have been moving everybody to TOU rates. There are about 5 or 6 to choose from and you can opt out and go back to the old tiered rate if you want to. I went on the special EV rate a couple of months ago. Before that we were averaging about $0.24/kWh on the tiered rate, depending on the time of year.
The special EV rate has worked out quite well for me, so far, even with our sky high rates. The summer peak period is from 4:00 pm until 9:00 pm, and they get $0.52/kWh!! The off peak rate is $0.28/kWh, and there's a "super off-peak rate" of $0.09/kWh that applies from midnight until 6:00 am on weekdays and until 2:00 pm on weekends and holidays.
I have a 5 kW PV system that was originally sized to offset about 80% of our usage, which includes a VFD pool pump. Since we installed the PV system we have switched from a propane gas dryer to electric (just recently replaced standard electric dryer with an unvented heat pump dryer). I also leased a Ford Fusion Energi plug-in hybrid three years ago, which was recently replaced with the Kona EV. I'm participating in an Energy Commission "smart home study" for which they have provided me with an L2 charger and an 8 kWh storage battery (along with a smart T-stat).
For the month of June we had a total net usage of about 125 kWh, but I ended up with an energy credit of $35.00. I always charge the Kona during the super off-peak period, whether I'm charging nightly or weekly (I'm trying both options out). The battery is set up to charge fully during the super off-peak period and then to cover our usage (up to 8 kWh) during the 4:00 pm until 9:00 pm peak period. We get charged or credited, monthly, at the full retail rate for our net usage, and bills are trued up and due annually in May. During the day we are feeding the grid at $0.28/kWh because our usage is well below the PV output. Even from 4:00 pm until about 6:00 pm (at least this time of year) we have a negative net usage until the sun goes down, at which time the battery kicks in. So basically we are using power at $0.09 and feeding it back to the grid at $0.28 or $0.52. During the month of June we had net negative usage during both of the high cost periods and about 350 kWh net positive during the super off-peak period. So far in July, according to my spreadsheet, we have generated about $20.00 in energy credit. We will probably end up using all of those credits later in the year when the weather is still warm, the A/C is still being used, and the PV output is reduced. Very interesting to see how all of these parts interact.