Chicago, U.S.A. --- (METERING.COM) --- January 19, 2007 – U.S. utility ComEd has announced the expansion of its residential real-time pricing program, which gives customers an effective bill management tool by providing hour-to-hour electricity pricing to help them manage their energy consumption and lower their monthly bills.
"We are pleased to offer residential customers a pricing program that puts more control into their hands," ComEd President Barry Mitchell said. "This voluntary program is an option that participating customers can use to potentially save money by reducing their electric consumption during high hourly price periods."
Under the legislatively mandated program, approved by the Illinois Commerce Commission last month, residential customers choosing the real-time pricing option will be billed for the power they consume based on hourly market prices. Participating customers will be able to lower their monthly electric bills by changing their usage habits to take advantage of lower- priced time periods, and avoiding heavy usage during higher-priced time periods.
The first 110,000 customers to enroll in the program will pay an additional $2.25 per month service charge on their bill to cover a portion of the cost associated with the installation of a new meter, capable of maintaining hourly usage data. Additional program participants may face a higher monthly service fee and other program related installation costs.
Participants will receive hourly pricing information from the program's third party administrator, Comverge, which was selected following a competitive bidding process held in December. Over the past four years, 1,100 customers participated in a pilot program administered by the Community Energy Cooperative.