PECO Requests Permission for Real-Time Pricing Program
Posted on: Tuesday, 18 March 2008, 09:01 CDT
Philadelphia-based utility PECO has requested the permission of the Pennsylvania Public Utility Commission to begin the first phase of a voluntary residential real-time pricing program.
Available to up to 2,000 PECO customers, the program allows customers to view the next day's energy prices, learn about how they use energy, and potentially save money by reducing energy use during the highest cost hours of the day.
PECO said that participating customers will have access to an interactive website where they will find all the information needed to make decisions about how and when they use energy. Customers will be able view the hourly price of energy and their actual energy use. Participating customers' meters will be upgraded with additional software to provide more automated meter readings.
Customers will participate in the program for 12 months. PECO stated that the program is one of many ways it is working to help customers manage their energy costs as rate caps expire on January 1, 2011, and the company completes the transition to market-based pricing.
The Pennsylvania Public Utility Commission (PUC) is expected to rule on PECO's filing in early summer 2008. If approved, PECO said that it will then begin soliciting customer volunteers to participate in the program.
Denis O'Brien, president and CEO of PECO, said: "In this ever-changing energy market, its important to explore new technology and its benefit to our customers. Real-time pricing helps puts customers in control by giving them the tools they need to understand how they use energy and to control their energy use during key times."
Source: Datamonitor
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