Can you install an off-peak (rate-of-use) service as follows:

Install a std. 100 amp main breaker panel from the main meter for the regular loads.
From the off-peak meter, run properly sized se cable to a 60 amp, 2 ckt. panel rated for minis. In this panel, install a "quad mini" with a common trip for the 2 center poles and a factory installed handle tie for the 2 outer poles. Then feed a water heater and a clothes dryer as your off-peak loads.

Space is extremely limited and I would like to replace a failed fusible disconnect with a panel of similar size, but now feed the dryer as well as the water heater.

Keep in mind that this will now require 3 "throws of the hand" in order to disconnect the service.

I appreciate opinions.