But it’s not all bad news!
In fact, the gradual introduction of digital electric meters has opened the door to all kinds of unique pricing plans that could save consumers big bucks.
Take for example these plans:
ComEd’s Residential Real-Time Pricing Program: This program charges a market rate that changes on an hourly basis, encouraging customers to put off heavy appliance usage until hours of the day when power prices are low. While not for everyone, ComEd said Real-Time Pricing in 2013 saved participants an average of 28 percent on the supply portion of their monthly power bills. (Ameren’s program is called “Power Smart Pricing.“)
MC Squared Smart Value Power Program: MC Squared Energy Services is the first alternative supplier to offer a 12-month “time of use” plan, which charges customers a lower rate if they are willing and able to put off heavy appliance usage until an “off-peak” period of the day (7 p.m. to 7 a.m.), when electricity demand is low. This plan is only for ComEd customers with new digital electric meters.
Peak Time Savings. This program, which will begin in the summer of 2015, gives ComEd customers an opportunity to save money without risk. By signing up, consumers are credited on their electric bill when they reduce power usage during designated periods when electricity is most in demand.
For more information on these plans and how to sign up, visit www.CUBSmartPower.com.