The Citizens Utility Board is making consumers aware of Ameren Illinois’ Power Smart Pricing program.
The program has existed since 2007 but the deployment of advanced electric meters has made it an easier choice for residents.
The program lets customers take advantage of hourly market-based electric rates, which tend to be lower during nights and weekends. During off-peak times, the market price of electricity can drop to a penny per kilowatt-hour. However, most Illinois consumers can’t make use of the lower rates because they have traditional electricity plans in which the supply rate doesn’t change for months or years at a time.
Participants have saved an average of 15 percent on the supply portion of their power bills.
An example of a new community power deal as of June 1 includes the village of Godfrey, which will be 5.874 cents per kilowatt-hour from June 2016 to June 2019.
CUB says the program helps reduce electricity demand at peak times, easing stress on the grid and preventing outages. Lowering peak demand also reduces the need to fire up more expensive peaker power plants. The less consumers have to rely on peaker plants to meet electricity demand, the lower rates can be for everyone, according to CUB.
For information, Ameren customers can call (877) 655-6028 or visit powersmartpricing.org.