Due to fluctuations in the supply and demand for electricity throughout the day, the wholesale cost to an electric utility to produce and provide electricity to customers varies continuously throughout the day. Presently, certain utilities are devising alternative electricity pricing structures that vary cost based upon the time in which electricity is used. Energy efficiency retrofits are typically conducted with consideration to static pricing plans for electricity and are indifferent to dynamic pricing policies. To be most effective, energy efficiency measures should be considered with regard to the time energy is used. This study investigates potential cost conservation measures that focus on reducing energy at times of higher energy costs to maximize energy savings. It is shown that shifting work schedules of office buildings with one shift 1 h early can slightly reduce monthly electricity rates by 1-3% and that thermal energy storage systems can be cost effective for retrofits with dynamic pricing schedules and areas that need full replacement of air conditioning. (C) 2014 Elsevier B.V. All rights reserved.