You don't have to do everything power hungry in an hour. The EK rates are pretty good - they actually went down recently. The free hour is a bonus and can be useful to do, mostly things like hot water, dishwasher, clothes drier. I wouldn't obsess about that though.
Yes hot water timers are installed by an electrician, takes 1 - 2 hours and the time is somewhere around $100 for a 15 - 20A timer.