I Care About Saving Money

Today's incomes don't always keep pace with a family's needs. Energy management through smart grid and smart meter technologies helps families be smarter on how they spend their money. A smarter grid could save consumers billions of dollars by reducing power outages and cutting energy waste, thus saving money on their energy bills.

Learn more about how a smarter grid can help you.

Key Facts

  • Could mean nearly $600 in direct bill savings for the average household each year
  • Gives you control over your power bill by making it possible to monitor and adjust your energy use through smart meters and home energy management systems that offer 24/7 rate and usage readings
  • Reduces expenses to energy producers by allowing direct communication with end-user equipment to reduce consumption during these peak periods, lowering the need for costly standby power plants
  • Some states offer new pricing plans that make it possible for consumers to save money by controlling how much electricity they use during times of peak demand when electricity is more expensive

Q&A

What are the benefits of the smart grid?

The smart grid empowers customers by creating the foundation necessary for a number of new technology-driven energy alternatives, emission reductions, efficiency improvements, a shift to a lower emitting fuel for transpor­tation, and encourages more energy efficiency by providing real-time energy usage data to customers. Research shows that when customers know how much energy they’re using, they will reduce their use by 5 to 10 percent. Additionally, the smart grid promotes integration of the vast amount of renewable energy that is currently being mandated and that is already in the pipeline for development.

  • A smart grid senses problems and reroutes power automatically.  This prevents some outages and reduces the length of those that do occur.
  • A smart grid helps meet growing demand for electricity while limiting the need to invest in new power plants.
  • A smart grid delivers the power “quality” necessary to run our increasingly digital homes – power with fewer sags, spikes, and interruptions.
  • Smart grid reduces greenhouse gas emissions by making it easier to connect renewable energy sources to the electricity grid.
  • Smart grid and smart meters help consumers save money by providing near real time energy usage information and the ability to manage electricity use.
  • Smart grid and smart meters make it easier for utilities to offer new kinds of rate plans to help customers manage energy usage and cost -- for example, by shifting some types of usage to times of day when electricity costs less. 
  • Smart meters eliminate the need for meter reading – instead, usage information is transmitted directly to the utility for timely, accurate billing.  There is never a need to send an estimated bill to the customer.
Will a smart meter give my utility control over how and when I use energy?

No. Actually, you control your usage, not the utility. Advanced metering gives you more control. Participating in residential energy management and other energy efficiency programs is completely optional. Customers who participate can use the information they receive to manage their energy usage day by day. Or, they can set preferences (select a maximum temperature for air conditioning, for instance) and let the system automatically make adjustments based on the cost or availability of energy. Either way, the customer is in complete control and will have the option to override signals or not participate in energy-efficiency programs at all.

The smart meter takes frequent readings of your energy usage, but it only measures the electricity used in your household, it does not control it. If you have opted in to a program such as a PeakRewards program, your smart meter will not change how this program operates. The utility will continue to cycle air conditioner compressors and hot water heaters on and off as needed during peak usage times, the same as when you first signed on to this program. In the future, the smart meters will enable utilities to remotely turn service on and off at customer premises. This feature will be used when customers move out of their current homes and start service elsewhere. This cost effective feature eliminates the need for a utility field visit when customers move or start service. The remote connect feature will also enable the utility to place customers back into service more expeditiously.​

How can the smart grid save me money?

The idea of the smart grid and the ability to communicate real time electrical market data to consumers will allow people to choose when to use electricity based on the smart grid rates. There is a lot involved in the electrical market and power pricing. Basically electricity is more expensive during higher demand times, usually mid week, mid day to evening. During the times if high demand electricity rates go up exponentially. This is due in part to the lack of generation capability and availability.

With the smart grid the communication of real time electricity rates to the consumer will be possible. This will allow people to choose not to use as much power during peak times to avoid high costs; this will overall reduce the demand. Smart grid compatible appliances or grid friendly appliances will be able to turn off and on automatically based on the cost of electricity at any given moment in time.

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