1. Check your bill.
Power Smart Pricing could be a good option if you spend more than $50 per month on electricity or use more than 350 kWh per month.
*Based on average prices for January 1, 2012 to April 24, 2014. Non-summer months include October-May. Summer months include June-September. Depending on market conditions, prices can vary significantly from this pattern. Savings cannot be guaranteed.
Summer Price Patterns
Electricity prices typically fluctuate most during the summer months, driven in large part by demand for air conditioning. Prices are usually highest during the late afternoon and tend to peak between 1 p.m. and 5 p.m. Higher overall prices tend to occur on days when the weather is particularly hot. Prices are generally lower on weekends and holidays and on days when the weather is cool. You can manage your costs by keeping these price patterns in mind and shifting electricity usage accordingly.
Fall, Winter, and Spring Price Patterns
Compared with summer prices, fall, winter, and spring prices are generally lower, and the price pattern is more stable. During the cooler months, there tends to be a small price spike in the morning and then again in the evening. On many fall, winter, or spring days the hourly price of electricity remains low all day long.
Weather Can Impact Hourly Prices
The weather can have a big impact on the hourly price of electricity, particularly during the summer when air conditioner usage drives up demand for electricity. This is why summer electricity prices tend to be highest during the afternoon. During the winter months, continuous days with very cold temperatures can also drive up natural gas prices, which can impact the hourly prices on Power Smart Pricing.
Checking Hourly Prices
Power Smart Pricing uses day-ahead, hourly market electricity prices. Each evening after 5 p.m., the prices for the following day are available online and by phone.
Online: http://www.powersmartpricing.org Phone: 1-877-655-6028
Price Alerts
To help get the most out of Power Smart Pricing, participants will receive an alert between 5 p.m. and 10 p.m. if hourly electricity prices will be 9 cents per kWh or higher for any number of hours the following day. This is most likely to occur on hot summer days, but could occur on any day of the year. You can receive alerts by phone, text message, or email. To update your contact information for alerts, click here, or contact us at 1-877-655-6028 or info@PowerSmartPricing.org
