In the comments on yesterday’s post, “Dynamic electric power prices for residential customers in Illinois,” Matthew Scallet, a Power Smart Pricing program administrator, offers a few more details on the savings by customers:
As far as savings are concerned, the average savings for our entire customer base is 13% since the beginning of the program in Jan 2007. Over time the savings levels has fluctuated as power prices change, but we’ve had a very good run lately. In 2009 with the wholesale market price for electricity being so low, the average savings for customers has jumped to 27%. Ameren’s flat rates went down a bit in June which has cut into those savings a bit during the summer but since summer power prices haven’t increased as much as in past summers, the numbers continue to look really good. Not paying a risk premium for a flat rate is what’s making the program attractive to customers.
The comment also addresses concerns about the participation fee and other issues raised in earlier comments.