I don’t live in California. Here in Colorado, my electricity costs the same all hours of the day and night. I did not make any comment about the electric company’s profit margin...I only said that I had been told that the consumer pays less for electricity at night.
You were misinformed. The residential meters turn at the same rate 24/7. Power companies make a better margin at night when the smaller less efficient plants can be pulled offline and their staffs trimmed, so that's when they want more residential usage.