Illinois Households Slash Electricity Costs 25 Percent with Power Smart Pricing

More than 11,000 downstate Illinois households have discovered they can cut their electric utility bills by switching to the Power Smart Pricing program from Ameren Illinois. Customers in this program have saved an average of 25 percent on the electricity supply portion of their electricity bills compared with what they would pay on the standard rate. That amounts to nearly $200 in annual savings for a typical household with total electric bills that averaged around $100 per month before switching to Power Smart Pricing. Program participants have saved more than $4 million since the program started in 2007.

The 25 percent savings result is based on average savings on electricity supply charges for 2008 through 2010. By the end of this year, current customers are on track to save an average of roughly 25 percent during 2011.

Power Smart Pricing is designed to help customers save money by giving them access to hourly, market-based electricity prices. While these prices vary, often the market-based price of electricity is lower than the price under the standard residential rate. Prices tend to be low most of the time during the fall, winter and spring, and can be higher on summer afternoons. Customers can increase their savings with Power Smart Pricing by taking simple actions to conserve electricity during the hours when prices rise.

Power Smart Pricing is an electricity rate option from Ameren Illinois that is administered by CNT Energy, a nonprofit organization dedicated to helping consumers and communities save energy and money. Customers who sign up for Power Smart Pricing continue to get their electricity supply from Ameren Illinois. CNT Energy provides information and customer support to help program participants get the best possible value from the program.

“Power Smart Pricing works a bit like a cell phone plan that gives you lower prices for nights and weekends,” says Stephanie Folk, a program spokesperson from CNT Energy. “But with Power Smart Pricing you get even more times when prices are low. For many people it’s an easy way to save on household bills.”

With Power Smart Pricing, the hourly electricity prices for each day are set the evening in advance. Customers can check prices by phone or the Internet or through other tools including Twitter and smart phone apps. Program participants can also view their electricity usage and savings information by logging in to their account at www.powersmartpricing.org.

In addition to helping customers cut costs, Power Smart Pricing has demonstrated that participants reduce their electricity usage during hours when demand for electricity is highest. This eases stress on the electric grid, and can help reduce the cost of power for all customers by reducing the amount of expensive peak power that the utility must buy.

For more information, go to contact the Power Smart Pricing team at info@powersmartpricing.org or call 1-877-655-6028.