ComEd’s Hourly Pricing program uses ComEd’s Rate BESH to determine your monthly electricity bills. BESH stands for Basic Electric Service–Hourly Energy Pricing. With it, the price you pay varies from hour to hour based on wholesale market prices.
Program participants like you will have access to hourly prices, and will receive high price notifications and alerts in addition to other useful information. Individual cost savings are not guaranteed and will vary month to month based on weather, market conditions, and usage habits. However, the more participants avoid using electricity when hourly prices are high, the more they can potentially save with ComEd’s Hourly Pricing program.
Since the program began, Hourly Pricing participants have experienced a savings of more than 15% off the electricity supply portion of their electricity bill, as compared with what they would have paid with ComEd’s fixed-price rate. Individual bills will vary month to month, based on weather, market conditions and your usage habits. Generally, the more you avoid using electricity when prices are high, the more you potentially could save with real-time pricing.
In 2015, the name of the program was changed from ComEd Residential Real-Time Pricing (RRTP) to Hourly Pricing. Hourly Pricing has now replaced RRTP in all communications. No action is needed on your part, and you can still expect the same great tools and support to help you save.
Other Potential Benefits
- Helps reduce carbon emissions that contribute to global warming.
- Helps ease stress on the power distribution system during high demand periods.
“There’s no cost for exchanging your old meter for the new hourly recording meter, and there’s no additional monthly fee for your new meter.”
Enrollment in this innovative program requires the installation of an electric meter capable of measuring and recording electric usage in hourly intervals. Other than your current monthly standard metering charge, there is no additional monthly meter lease fee for this hourly recording meter and you will not pay a fee for exchanging the meter. The exemption from the monthly meter lease fee and the meter exchange fee only applies to the first meter. If a customer has more than one meter participating in the program at their premises, this customer is subject to a regular monthly meter lease fee and a meter exchange fee for each additional hourly recording meter. Each meter associated with your ComEd account must be exchanged for an hourly recording meter in order to participate in ComEd’s Hourly Pricing program.
Effective with the July 2012 monthly bills, Hourly Pricing participants will be charged an additional fee of $0.39 per month to participate in the program. This fee is subject to change as allowed by the Illinois Public Utilities Act.
Hourly Pricing participants must also remain in the program for at least 12 consecutive monthly billing periods. Thereafter, participants are free to leave the program if they wish.
Electric Vehicle Owners
ComEd’s Hourly Pricing program is an hourly electricity pricing option that could reduce the cost of charging your electric vehicle (EV). Hourly electricity pricing lets you pay less for electricity during off-peak times such as nights and weekends. By plugging in during off peak times you can take advantage of lower electricity prices and reduce the overall cost of car ownership. Visit the ComEd EV Cost Calculator to learn how to maximize potential savings. EV Cost Calculator: https://www.comed.com/technology/electric-vehicles/Pages/cost-calculator.aspx
Load Guard is a service offered to all Hourly Pricing participants with a central air conditioner who are also enrolled in ComEd’s Central Air Conditioning Cycling (AC Cycling). Load Guard runs from May 1 through September 30.
With Load guard the price level is 14 cents at which Load Guard automatically moderates your central AC usage during high priced hours. When the price level is reached, Load Guard switches your central AC into a conservation mode for a two-hour period. During this conservation mode, your air conditioner’s compressor will cycle off and on every 15 minutes. This allows a cool indoor temperature in your home, but still protects you against extreme electricity prices.
Elevate Energy is the current administrator of ComEd’s Hourly Pricing program. As an affiliate of the Center for Neighborhood Technology, Elevate Energy is a Chicago-based nonprofit organization dedicated to smarter energy use for all. The organization has been involved in real-time pricing since ComEd first launched a pilot program in 2003. Elevate Energy (then called the Community Energy Cooperative) worked with ComEd to provide high quality customer support, and that successful pilot program became the model for ComEd’s Hourly Pricing program that exists today. The Hourly Pricing team at Elevate Energy looks forward to continuing to help Illinois households get the best possible value from hourly electricity pricing. To learn more about Elevate Energy, visit www.elevateenergy.org.
To Learn More
You can receive additional information and sign up for ComEd’s Hourly Pricing program and Load Guard by visiting the program’s FAQ page, or by calling an Hourly Pricing specialist at 888-202-7787. Prior to enrolling, we recommend that you review the frequently asked questions on the website and review ComEd’s Hourly Pricing Program Guide (pdf), which includes information on how to understand your Hourly Pricing bill. Haga clic aquí para información sobre el programa en Español.