Yes, it is possible. It is more likely that you will see higher bills in some months offset by lower bills in other months. What's important is whether your lower bills more than offset your higher bills, and that you see a net savings over the entire year.
Time-of-Use rates are offered as an incentive to shift your electric use from peak to off-peak hours particularly during the summer. Being on the Time-of-Use rate will require you to make adjustments in your daily routine. If you don't change your energy usage patterns, you could pay more or you may come out about even on this rate. If you control peak usage, you may end up saving in some or all of the months.