Energy-Smart Pricing Plan Attracts Attention
Changes are in the works for Illinois electricity markets, as deregulation will produce higher rates in 2007. CNT’s Community Energy Cooperative is promoting new options that will benefit local residents, and the Cooperative’s Energy-Smart Pricing Plan is attracting attention.
An auction now in progress will set the price that households will pay for electricity starting in January 2007. But consumers will have another rate option next year as well-people will also be able to choose an electricity rate that uses hourly prices that vary based on wholesale market prices.
Households participating in the Cooperative’s pilot Energy-Smart Pricing Plan (ESPP) have been trying out this type of hourly rate. Since the program launched in 2003, it has been successful in helping people to save money, improve energy efficiency, and take greater control over energy expenses. And local media outlets are taking note.
On September 7th, the Chicago Sun Times featured a story about the Energy-Smart Pricing Plan on the cover of the business section. The article noted that ESPP participants can save money because they have access to cheap power most hours of most days. When market prices rise, the Cooperative notifies participants so that they can manage their electricity use and keep expenses in check. “For instance, during a heat wave, when afternoon prices inevitably spike, a customer might delay running the dryer,” wrote Reporter Mary Wisniewski
This week, ESPP also attracted the attention of the Chicago Journal. A September 7th article about the program quoted ESPP participant Jim Derico of the South Loop, who has saved around $100 on his electricity bills since enrolling in ESPP. “I think what’s really nice about [the program] is it educates you about how it works-how you’re charged for energy as a commodity,” Derico said.
Read the Sun Times article and the Chicago Journal article for more information.
