Peak Time Saving, the new smart meter programme by ComEd, will held consumers reduce electricity usage the company announced this week.

According to Val Jensen, ComEd senior VP of customer operations: 'The Peak Time Savings program is another way our smart meter technology is bringing value to our customers. Smart meters are at the heart of what we believe will become the electricity network of the future and we will continue to use smart grid technology as a platform to explore innovative solutions to provide customers with reliable electric service and more options on managing their electricity use and costs.

Driven by demand, the company will announce Peak Time Savings Hours on days when electricity is most in demand. Typically, this will be 'for a few hours between 11 a.m. and 7 p.m. on three to five days during the summer.’

By managing energy use, customers can voluntarily reduce their electricity consumption during peak demand.  Customers can earn a $1 credit on their electric bill for every kilowatt-hour (kWh) saved during these times.

Peak Time Savings is part of ComEd’s SmartGridExchangeSM initiative, a long-term collaborative effort between ComEd, technology companies, universities and customers to spur innovation that will shape what the electric grid of the future will offer customers.