Dive Brief:
- Commonwealth Edison is signing up customers for a new Peak Time Savings plan that will award bill credits for voluntary power reductions during high use times.
- Consumers will earn a $1 credit for every kilowatt hour of power they cut during peak demand times. Demand reductions include customers setting their thermostats higher, delaying the use of household appliances, and turning off lights and electronics.
- Customers must have a smart meter to participate. The utility is enrolling participants now and will begin the program in the summer of 2015.
Dive Insight:
ComEd said just how much a customer will save "depends on the actions you take to reduce your usage, the characteristics of your home, and your typical energy use." The utility expects most customers will receive between $1 and $12 credit on their bill each time they participate during peak demand hours.
When customers enroll they can choose to be notified by phone, text or email of when Peak Time Savings Hours occur. Notification is day-of, as early as 9 a.m. or with as little warning as 30 minutes. There is no penalty for not reducing usage.
Peak Time Savings Hours typically occur for a few hours between 11 a.m. and 7 p.m., ComEd said, when most air conditioners are on and businesses are operating.
"ComEd is offering this program to encourage customers to use less electricity during times when it is most in demand," the utility said on a web page explaining the program. "This can help reduce the need for fossil-fuel power plants, lowering the emissions that would otherwise be released into the atmosphere. Smart meters are a key part of ComEd's effort to modernize the electric system."
