CUB Alerts Smart Meter Customers To Risk-Free Rebate Plan

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Oct 01, 2014, 01:39 ET

CHICAGO, Oct. 1, 2014 /PRNewswire-USNewswire/ -- As Illinois' electricity grid undergoes the most significant revamp in its history, the Citizens Utility Board (CUB) on Wednesday alerted customers with new digital electric meters that they can sign up for a risk-free program that rewards them with bill credits for delaying heavy power usage on certain hot summer days.

CUB and other consumer advocates pushed for Commonwealth Edison to offer a Peak Time Savings program, and Illinois' biggest electric utility has officially begun to sign people up on Oct. 1.

From now through April 2015, customers with new digital smart meters can enroll in the program by calling ComEd, at 1-844-852-0347, or visiting the "Peak Time Savings" page at www.ComEd.com/pts.

ComEd last year launched major improvements—collectively called the "smart grid"—that have the potential to make Northern Illinois' power grid more affordable and reliable for consumers. It plans to install more than four million new digital electric meters by 2018. The meters, which automatically record energy-usage information, make it possible to offer new pricing programs, such as Peak Time Savings.

"Peak Time Savings is a simple and risk-free way to save money on your power bill," CUB Executive Director David Kolata said. "The new digital electric meters being installed across Illinois open the door to creative programs like this that financially benefit consumers while helping make the power grid more reliable and affordable."

Here's how the program works: Beginning summer 2015, participants will be credited on their electric bill when they reduce power usage during certain designated periods when summer electricity demand is highest.

Such a "Peak Time Savings period" will typically occur for a few hours between 11 a.m. and 7 p.m. on certain summer days. ComEd will notify participants of a "Peak Time" period—by phone, text message, or email—at least 30 minutes prior to the start of the period.

Customers who choose not to reduce their power usage won't be penalized. They simply won't get a credit that day. However they can participate in future "Peak Time" periods.

The Peak Time Savings program is open to anyone who pays a ComEd bill and has a new digital meter—including customers with an alternative electricity supplier. There is no cost to enroll and no penalty for exiting the program.

The program rewards participants with a $1 credit for every kilowatt-hour they reduce their power usage. ComEd will determine the total amount of a customer's credit using a formula based on his or her typical usage history versus what the customer actually used during a designated "Peak Time" period.

While exact savings estimates are not available in the first year of the program, ComEd said customers could potentially earn a total credit of $4 to $12 in a "Peak Time" period by doing simple things, such as setting the thermostat 4 degrees higher and delaying use of the dishwasher, clothes dryer, vacuum, lights or electronics.

See CUB's Peak Time Savings fact sheet on www.CUBSmartPower.com.

CUB, Illinois' leading nonprofit utility watchdog organization, is celebrating its 30^th anniversary. Created by the Illinois Legislature, CUB opened its doors in 1984 to represent the interests of residential and small-business utility customers. Since then, CUB has saved consumers more than $10 billion by helping to block rate hikes and secure refunds over the years. For more information, call CUB's Consumer Hotline at 1-800-669-5556 or visit CUB's award-winning website, www.CitizensUtilityBoard.org.

SOURCE Citizens Utility Board