Mike putting a time clock on your hot water heater just makes good sense.
Any one can do it. You have it come on an hour before you get up and go off an hour after you leave for work.At night the process is reversed. It comes on an hour before you get home and goes off an hour after you go to bed.
it can also be locked out for weekends and there's a manual over ride switch for times like holidays.
Back in the 70's ceil-heat as it's called was quite common(Me I'd like to strangle the guy that invented it) Nowadays it like electric baseboard heat is not very cost effective.
The power company's always try to find new ways to entice customers building a home to go total electric. They would come out and offer a slightly reduced rate if the customer would allow them to use their home as a guinea pig.
They'd install time clocks,electric heat and demand meters so company engineers could show other customers the savings they could have by not using natural gas or oil.
Coarse with the reduced rate(But they didn't tell them that) it looked really good.
Today not much of that goes on and you only find demand meters on commercial and industrial customers. It's used to get more money. Residential electric rates are usually set by the individual states but commercial and industrial rates are not.
Putting a timer on the silent thief ( HW heater) is always a good idea.
Reduce the setting on your thermostat and wear a light sweater in the winter.
These will really save you money which means more money for trains.
David