Electric company offering hourly kWh pricing?

[dja4260]

ComEd by electric provider offers kWh pricing. It cost me $.39 monthly to participate. I have a smart thermostat and typically work during "peak" hours. We average 554 kWh over the past 13 months. July/Aug (920/963 kWh) was more than double any other months usage. The coldest months Dec/Jan (640,653 kWh) are our second highest usage months. Everything else floats around ~420 kWh.

We pay a fixed kWh rate of .05

Anyone else have any experience in a program like this?

Thoughts?

Link to providers video on program -> https://www.youtube.com/watch?v=FO38NUZ99SM

 

[xfactor9]

Here, the state will be moving to peak- and off-peak pricing sometime in the future. I am on an experimental plan where there are different rates for times of day and month, which is related to electricity demand. The most expensive period is late afternoon to late evening weekdays in summer. The least expensive is off-peak periods in spring (such as weekends).

My use varies from 200kwh to 300kwh monthly. Under the new plan, I pay about $5 more each month during summer than the old flat plan, but I expect to pay less during the other seasons. Overall I expect to pay less.

 

[Johnny2Bad]

Don't all electric utilities charge by the Kilowatt-Hour? I'm not sure what you are asking.

Okay, I watched the video. You are talking about variable rates based on overall demand. Got it.

You need to assess your electricity use and decide. If you run the high demand appliances all the time (electric heat, air conditioning) I don't see how you could save money. The benefit lies where you can plan to use your appliances during off-peak times of the day, so this basically means adjusting your high demand appliance use, such as electric clothes dryer, or if you can change your meal times so the stove isn't on from 5 to 7 pm, that kind of thing. Things like lighting won't matter; they are low demand (a 60 watt bulb costs 1000/60 or 1/17th of a KwH).

 

[bioburner]

Our utility offers off peak rates for heating and water heaters. They control via radio box. Half the rate of normal. We pay 12 cents per killowatt with $25 connect fee per month and additional cost for several peak summer months

 

[eljefino]

Watch for Legionnaires' disease with hot water going tepid. I'd go hotter so as to "coast down" through the safe zone.

 

[azjake]

Salt River Project (SRP) which serves the east valley of the Phoenix metro area has a similar plan. It all depends upon your situation. We're retired, but if we were still working and not at home during peak afternoon hours we might consider it.

 

[CT8]

It is a new way to gouge the idiot rate payers.

 

[Pop_Rivit]

In our first home back in the 1970s we had a time of use meter. It was part of a test program that the utility company was working on developing. It actually worked quite well for us; we were both just really getting started with careers and both putting in 10-12 (or more) hour days away from home, so our primary usage was off-peak hours.

We currently participate in the summer savings program, which cycles the air conditioner compressor on or off via radio signal for up to 10 minutes each hour during "peak alert" times. They credit us $30 at the end of the year for having it, even though some years it's never been used.

For our currently lifestyle the time of use meter might not work, but the summer savings program works quite well.
Originally Posted By: CT8
It is a new way to gouge the idiot rate payers.

That's especially ironic coming from someone who chooses to live in California.

 

[IndyIan]

I would keep your $0.05/kwh flat rate as long as you can. Try to save some electricity too, but from that price I can't see you paying less very often...

 

[OVERKILL]

Originally Posted By: IndyIan
I would keep your $0.05/kwh flat rate as long as you can. Try to save some electricity too, but from that price I can't see you paying less very often...


Yup. I wish we were still paying 2010 rates, or even better, 2007.

 

[PandaBear]

That's the future of electricity. I am on PG&E Smart Rate plan which charge a higher (55c/kwh) during 15 of the peak summer days (heat storm) per year from 1-7pm, and 2c/kwh cheaper on the rest of the year. I am not at home so it is a good deal for me, and overall I save about $5/mo. If I work from home I would not join it for sure.

The biggest electric user in my home is the electric dryer. Now that I have a family of 4, I do about 6 loads a week and it adds up. If I cannot get a scheduled start electric dryer for a time of day plan I would definitely go natural gas.

 

[Shannow]

They need you to get on time (actually cost) of use metering, so that when all these cheap renreables are the sole source of supply, you are the driver to get the expensive peakers on, or pay the 25c/KWh round trip through the battery storage.

Making sure that you are flexible (like charging your electric car in the middle of the day while you should be at work) is going to be important in the future.