yes that is very low.
Mine is $0.11/KWHfor the first tier,
2nd is 0.23
3rd is 0.36
4th is 0.44
If you get $0.03/KWH, I would milk that lol..
It sucks though because I'm just doing a 250W grow and it kicks me ito the 3rd tier in winter and 4th tier in summer
(I only get charged the new "tier" price for the electricity used after I've been kicked into that tier, so the initial electricity is still 1st, then second and so on. But it adds up)
care/ ferra program is your friend!