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Retail Supplier Launches Mass Market Dynamic Pricing Plan in Illinois, Said to be First Smart Meter Offering in Market
MC Squared Energy Services, LLC has launched a dynamic pricing product for residential electric customers at Commonwealth Edison in Illinois.
MC Squared's Smart Value Power Program is a time of use product with a peak and off-peak rate for energy.
The peak energy rate is 6.2¢/kWh, and applies 7 a.m.–7 p.m. Monday through Friday.
The off-peak energy rate is 2.990¢/kWh, and applies in all other hours (called Value Hours)
The energy rates above are fixed for 12 months, and do not include capacity or transmission, which are charged on a pass-through basis without a mark-up from MC Squared
A program administrative fee of 0.5¢/kWh also applies.
Additionally, MC Squared guarantees that customers on the Smart Value Power Program will never pay more than the cost of ComEd default service for the full 12-month term. Specifically, if the customers' savings under the plan are negative versus the ComEd cost at the end of the contract term, MC Squared will provide a credit for the difference.
There is no early termination fee, though the customer must remain on the contract for 12 months to receive any credit under the guaranteed savings provision.
MC Squared said that it is the first retail electric supplier in the Commonwealth Edison service territory to launch an electricity pricing plan for households with smart meters.
ComEd smart meter deployment is not yet ubiquitous; full installation is scheduled to be completed by 2021.
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February 6, 2014
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Copyright 2010-13 EnergyChoiceMatters.com
Reporting by Karen Abbott • kabbott@energychoicematters.com
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