Did you know that you are charged a different rate for electricity during the peak hours of the day? It’s true! One Chicago group is learning to conserve energy (and money) by monitoring their usage hourly, rather than monthly. From the New York Times:

Most people are not aware that electricity prices fluctuate widely throughout the day, let alone exactly how much they pay at the moment they flip a switch. But Ms. Kinch and her husband are among the 1,100 Chicago residents who belong to the Community Energy Cooperative, a pilot project to encourage energy conservation, and this puts them among the rare few who are able to save money by shifting their use of power.
…
The vast majority of utility customers know only the average price of the electricity they used in any given month. But wholesale prices for electricity are set a day in advance, usually on an hour-by-hour or quarter-hour basis. Power companies and utilities are keenly aware of the pricing roller coaster, but they typically blend the numbers into a single monthly bill for their customers.

For more information about the program check out the Community Energy Cooperative. Save Money! —MEGHANN MARCO

Taking Control of Electric Bill, Hour by Hour [New York Times]

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