Real-Time Pricing: Will a Glowing Orb Lead the Way?
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A version of this article appears in the March/April 2008
issue of Home Energy Magazine.
March 05, 2008
The nation's first large-scale real-time pricing program began in 2003 in the metropolitan Chicago area. It's credited with a 3% decrease in customer energy use in the summer.
A grand experiment is under way for residential electricity customers in Illinois. Consumers are responding with sticker shock at electricity prices after the lifting of a ten-year rate freeze, from 1997 to 2007, and the state is attempting to recover from deregulation fever. Nothing unusual here. But Illinois is unique in enacting legislation that requires large investor-owned utilities to offer real-time pricing rate options to their residential customers.
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