Electricity pricing refers to the cost consumers pay for using electrical power. This price can vary based on factors like demand, time of day, and the source of the electricity, such as renewable energy or fossil fuels. Utilities often charge more during peak hours when demand is high, encouraging users to shift their usage to off-peak times. Different pricing models exist, including fixed rates, where consumers pay a set price, and variable rates, which fluctuate based on market conditions. Understanding these pricing structures helps consumers make informed choices about their energy usage and can lead to savings on their electricity bills.