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Real-time pricing can cut electric costs

On this Earth Day, local electric utility ComEd says customers who’ve tried its residential real-time pricing program have cut their electric bills by an average of 15 percent.

The savings also help the environment by reducing the total pollution levels from power plants.

The utility says the savings for the average customer in the program last year amounted to $185.

On this Earth Day, local electric utility ComEd says customers who’ve tried its residential real-time pricing program have cut their electric bills by an average of 15 percent.

The savings also help the environment by reducing the total pollution levels from power plants.

The utility says the savings for the average customer in the program last year amounted to $185.

Under the standard fixed-price rate, the price for electricity is the same no matter what time of day customers use it. But with the real-time pricing program customers pay lower prices for electricity during off-peak hours, including nights and weekends.

Using less electricity during summer afternoons when electricity costs are typically highest and shifting the use of power-hungry appliances to lower-priced hours helps maximize the potential savings.

So, program participants can cut costs by being smart about how much electricity they use and when they use it. Many participants shifted use of major appliances to lower priced hours to save money. Other participants saved without changing their behavior, because they don’t use a lot of peak period energy to begin with, such as those who are away at work during the day, and this program rewards them for their current behavior.

By reducing the electricity required during peak periods, participants help reduce the use of older, less efficient and more polluting generation facilities that are only used in brief periods of high demand. In this way, participants help reduce the release of emissions that contribute to global warming.

More information about the program is available online or by calling 1-877-928-8776.

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