April 8, 2010 - Connecticut Light & Power Co. has filed with the state Department of Public Utility Control for permission to install more smart meters to give customers tools to better control energy use via the latest technology.
The meters would allow three new pricing options for CL&P's 1.2 million customers: "Peak-Time Pricing," a four-hour Time of Use rate, and a "Peak-Time Rebate" for limited-income customers who reduce their energy use during peak hours (2-6 p.m.). A flat rate would continue to be available.
This follows on CL&P's successful Plan-it Wise Energy program last summer. In that program, approximately 1,500 commercial and industrial customers throughout CL&P's service area and 1,500 CL&P residential customers from Hartford and Stamford participated in a pilot study of smart meters and new energy pricing options.
The pilot showed that customers will use less energy during peak times if they are rewarded with lower rates, CL&P customer solutions director Jessica Brahaney Cain said. CL&P is waiting for the industry to develop standards before broadly rolling out the technology.
CL&P's phased-in approach expects those standards will be in place so it can start installing smart meters for customers in late 2012.
While the program will cost nearly $500 million over 20 years, that will be balanced by benefits that approach $600 million, Cain said.