After Investing Billions, Is Illinois Grid Modernization Paying Off For Utilities And Customers?
Illinois is ranked second in Cleanedge's Grid Modernization Index. Although the state's electric prices are among the country's lowest. the author argues that proper education regarding the economic benefits of dynamic pricing could further drive them down.
From the article:
Smart meter data from over 300,000 ComEd customers showed that 97% of customers would benefit from real-time pricing without changing their consumption habits . Average customer savings would have totaled $86.63 annually, or 13.2% of the average bill.
The customers with the highest levels of savings would have cut their annual costs an average of 31%, for $104 in savings, reflecting what might be possible if consumers adjusted behavior and installed programmable appliances to respond to changing prices. Even among the 3% of customers who would have seen higher bills on hourly pricing, the median customer lost an estimated $6.23 on the year; 90% of such customers would have lost less than 5.3% compared to their annual bill.
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