​Utility has installed more than two million smart meters, urges customers to sign up for energy savings programs like Peak Time Savings. 

CHICAGO (March 23, 2016) – ComEd has reached the halfway point for installations of Smart Meters – 2.1 million installed – at a home in Rockford.  At an event marking this milestone, ComEd urged customers with smart meters – and those soon to receive them in Rockford, Chicago, and elsewhere in northern Illinois – to sign up for smart meter-enabled energy savings programs like Peak Time Savings. In 2015, 57,000 ComEd customers enrolled in peak time savings and saved nearly $400,000.

"We now have more than two million customers that have access to tools that can help them manage their electricity and save money because of smart meters" said Val Jensen, Senior Vice President of Customer Operations for ComEd.  "Some of these programs require very little effort from customers but deliver noticeable savings. We hope that all our customers with smart meters will take advantage of their smart meter technology and opportunity to save energy and money."

Smart meters provide customers with access to more information about their energy use through online energy-management tools. Additionally, because smart meters automatically send meter readings to ComEd, they also help eliminate estimated bills and reduce operating costs that become savings on customers' electric bills.

The smart-meter enabled Peak Time Savings program helps to save customers money by applying credits to their bills for lowering electricity usage during high demand periods. Customers can earn a $1 credit on their electric bills for every kilowatt-hour (kWh) of electricity they voluntarily reduce during Peak Time Savings Hours.

"I'm definitely always looking for new technology or anything that'll help me out, said Angelique Tribett, who recently signed up for the PTS program. "ComEd informed me that I could earn savings on my electric bill with Peak Time Savings and I could receive notifications letting me know when I should power down to save money, so I signed up."

After enrolling in the program, Angelique has already benefited from the savings. On a recent bill, she said she saved $6.23 by participating in the program. "If you sign up for the Peak Time Savings Program with ComEd, there's nothing to lose," she said.

Customers with smart meters can take advantage of ComEd's smart meter-enabled tools and make a direct impact on their electric bills, including:

• Personalized Energy-Management Tools are available by logging into your online ComEd account. Here, customers can access free personalized energy saving tips, set savings goals, enroll in high-usage alerts which notify customers when their electricity is trending higher than usual for their household, and sign up to receive weekly usage reports via email.

• Hourly Pricing program allows residential customers to pay the hourly prices for electricity which means customers can save by using electricity when prices are lower. Participants also receive customer support and services to help manage costs with hourly pricing. Services include real-time high price alerts, predicted day-ahead high price alerts, an online bill comparison tool, and information to help guide energy decisions.

"The advanced technology we are putting into place is creating a platform by which new innovation can be brought to the grid and create greater value for our customers," said Jensen. "We're committed to enabling our customers to take full advantage of the new technologies, transforming the way electricity is distributed and used by our customers."