ComEd Expands Residential Real-Time Pricing Program

ComEd announced earlier this month the expansion of its Residential Real-Time Pricing Program. A part of the company's efforts to help customers effectively manage their bills, the program provides participants hour-to-hour electricity pricing.

"We are pleased to offer residential customers a pricing program that puts more control into their hands," ComEd President Barry Mitchell said. "This voluntary program is an option that participating customers can use to potentially save money by reducing their electric consumption during high hourly price periods."

Under the legislatively mandated program, approved by the Illinois Commerce Commission last month, residential customers choosing the real-time pricing option will be billed for the power they consume based on hourly market prices. Participating customers will be able to lower their monthly electric bills by changing their usage habits to take advantage of lower- priced time periods, and avoiding heavy usage during higher-priced time periods.

Participants will receive hourly pricing information from the program's third party administrator, Comverge, who was selected following a competitive bidding process held in December. Over the past four years, 1,100 customers participated in a pilot program administered by the Community Energy Cooperative.

"Comverge is excited to have been chosen to manage this important real- time pricing program rollout," said Robert M. Chiste, president and CEO of Comverge Inc. "Real-time pricing programs are a critical element to the long term reliability of the electric infrastructure. Comverge is pleased to share this vision with ComEd and bring its expertise to this program."