In the US, energy provider ComEd has saved customers that are enrolled in its Peak Time Savings programme, approximately US$400,000 on their electric bills.
ComEd’s Peak Time Savings is a smart-meter enabled programme that rewards customers with credits to their electric bills for lowering electricity usage during peak demand periods.
The programme allows customers to earn a US$1 credit on their electric bills for every kilowatt-hour (kWh) of electricity they voluntarily reduce during Peak Time Savings Hours.
Comed’s smart meter benefits
Commenting in regard to the aim of the programme, Val Jensen, senior vice president of Customer Operations at ComEd said: “This is another program that leverages the smart meter technology so our customers can reap the value of the investments made to modernize our electrical system”.
In addition to the US$1 consumers earn, ComEd announced five winners of the Peak Time Savings Smart Appliance Challenge will receive one smart appliance provided by the utility.
Mr Jensen added ComEd would like to see consumers utilise smart appliances as they allow savings in bills, by offering greater options on energy use, know when electricity prices are cheaper, or reductions are being requested.
ComEd in US smart metering
Launched under ComEd’s Smart Grid Plan, is the installation of 4 million smart meters in northern Illinois by 2018.
The development follows the launch of ComEd’s Future Energy Plan, legislation the utility claims will build efforts to expand support for renewable energy in Illinois.
The plan also aims to ensure that energy consumers and the economy will continue to benefit from affordable power and a more secure and resilient grid.
In the Q3 of 2015, ComEd announced is running two years ahead on its US$2.6 billion smart meter rollout.
Metering & Smart Energy International reported ComEd began installation of the first of more than 80,000 smart meters in Rockford , the third largest city in Illinois.
The utility plans to deploy meters to 9,800 houses and businesses in Rockford before the end of the year, bringing forward the initial deployment date of 2017.