ComEd’s Peak Time Savings program rewards customers for voluntarily reducing energy use on certain days when demand is high
CHICAGO–(BUSINESS WIRE)–Through its Peak Time Savings program, ComEd empowered nearly 300,000 families and individuals to lower their bills by a total of more than $4 million this summer when they voluntarily managed their energy use during six Peak Time Savings Hours.
Peak Time Savings pays enrolled customers for using less electricity during peak hours – or when electricity is most in demand. Participants can earn bill credits by taking simple actions, such as raising their thermostats by a few degrees or waiting until the end of Peak Time Savings Hours to use large appliances. Since the program launched in 2015, participating customers received a total of more than $10.2 million in bill credits.
“We believe energy should be affordable and accessible to all customers,” said Jane Park, ComEd’s senior vice president of customer operations. “This program is one of the many ways – including hourly pricing and offerings under the ComEd® Energy Efficiency Program – that give our customers the power to choose how they use energy and save money on their energy bills.”
How It Works
Peak Time Savings Hours occur when electricity is most in demand, usually on hot summer afternoons when most air conditioners are on, stores are open and factories are running.
There is no cost to enroll in the program and no penalty if a customer enrolls and chooses not to make changes in their energy use. Once enrolled, customers can choose to be notified of Peak Time Savings Hours by phone, text or email. ComEd also announces Peak Time Savings Hours on Facebook and Twitter.
When a household does participate, ComEd will credit their monthly bill based on how much they reduced their energy use during Peak Time Savings Hours, compared to their energy use on days leading up to the event. ComEd offers a Peak Time Savings Calculator to help customers estimate their potential cumulative earnings for the summer, which is based on a customer’s average-sized home and typical energy use.
The Peak Time Savings program, enabled by the Smart Grid law, is another way ComEd’s smart grid technology is bringing value to our customers. Smart meters are part ComEd’s smart grid investment program that has helped produce record power reliability, more energy-management options and customer satisfaction results.
Customers who wish to enroll and participate in the summer 2020 Peak Time Savings season can find more information at ComEd.com/PTS.
ComEd is a unit of Chicago-based Exelon Corporation (NASDAQ: EXC), a Fortune 100 energy company with approximately 10 million electricity and natural gas customers – the largest number of customers in the U.S. ComEd powers the lives of more than 4 million customers across northern Illinois, or 70 percent of the state’s population. For more information visit ComEd.com and connect with the company on Facebook, Twitter, Instagram and YouTube.
ComEd Media Relations