Core Viewpoint - The implementation of the "Five-Period" time-of-use electricity pricing mechanism in Shandong since 2021 aims to optimize electricity consumption patterns, benefiting both individual consumers and businesses by reducing electricity costs and alleviating pressure on the power grid [1][2][4]. Group 1: Time-of-Use Pricing Mechanism - The "Five-Period" pricing divides the day into five segments: peak, flat, valley, and deep valley, with varying rates to encourage users to consume electricity during off-peak hours [2][4]. - The pricing structure allows for significant savings; for example, deep valley pricing can be as low as 0.222 yuan per kWh, while peak pricing can reach 0.888 yuan per kWh, creating a price difference of up to 90% [2][4]. Group 2: Benefits for Consumers - Individual consumers, such as electric vehicle owners, can save significantly by charging during low-cost periods. For instance, charging during deep valley hours can reduce annual electricity costs to around 600 yuan compared to 1731 yuan without time-of-use pricing [3][4]. - A case study of a consumer switching from gasoline to electric vehicles shows a drastic reduction in annual costs from nearly 12,000 yuan to about 700 yuan due to the adoption of time-of-use pricing [1][3]. Group 3: Benefits for Businesses - Businesses in agriculture and industry can also benefit from the pricing mechanism by adjusting their operational hours to take advantage of lower rates. For example, an agricultural company saved nearly 300 yuan per irrigation session by shifting its watering schedule [4][5]. - In the industrial sector, companies can save substantial amounts; for instance, a manufacturing company reported savings of over 200,000 yuan per month by optimizing energy-intensive processes to align with lower pricing periods [5][6]. Group 4: Impact on Renewable Energy Consumption - The pricing mechanism is designed to enhance the consumption of renewable energy, particularly during peak production times for solar and wind energy, thus supporting the integration of green energy into the grid [5][6]. - By 2024, the time-of-use pricing is expected to increase the capacity for midday renewable energy consumption by approximately 583.87 MW, helping to balance supply and demand during peak hours [6].