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Recently, there has been a notable increase in utilities adopting time-varying rates to manage demand and provide value during peak times. For instance, during California's intense heatwave in September 2022, Southern California Edison utilized a time-of-use rate that led to a significant reduction in energy consumption, measuring a 75-megawatt load drop as customers adjusted their usage in response to higher on-peak prices. This shift not only helped alleviate pressure on the grid but also allowed customers to save on their energy bills. Overall, this trend highlights the growing importance of time-varying rates in fostering consumer engagement and creating a more responsive energy market.