If you live in a building with a smart meter, then you may have heard of “Hourly Pricing” for ComEd customers or Ameren’s “Power Smart Pricing”. Both programs vary the price of electricity by the hour based on market rates. This means that customers have the ability to adjust their power usage to times when the prices may be lower — and to reduce their bills accordingly.
This year, ComEd reached a record number of people enrolled in their Peak Time Savings program, tripling from 52,000 customers last summer to 160,000 customers this summer. High fives all around!
Why would so many people sign up for this program? The idea is that ComEd provides an incentive for you to reduce your energy use at times when electricity is most in demand — helping to ease the burden on our power grid. Used wisely, programs like this can be a tool for you to save money and also know that you are doing something helpful for the larger Illinois community.
Do these programs interest you? Check out the Smart Power Illinois overview of the various pricing programs offered by Illinois utilities. Citizens Utility Board also has a very helpful Peak Time Savings fact sheet for ComEd customers.