A Note About Hourly Electricity Prices - Power Smart Pricing

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  • 9/8/2015 ANoteaboutHourlyElectricityPricesPowerSmartPricing

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    ANoteaboutHourlyElectricityPricesJUNE1,2015AguidingprincipalbehindthePowerSmartPricing(PSP)programisthatinformationempowerspeopletomakesmarterdecisionsabouttheirenergyusage.Whenyouhaveinformationaboutwhatthepriceofelectricitywillbethroughouttheday,youcanplanaccordinglyandsave.Inthesamespirit,startingJune1,2015,thehourlypricinginformationprovidedtoPSPparticipantswillincludeBOTHthehourlyelectricitypriceandtheRTPSupplierChargerate.WebelievethiswillallowparticipantstobetterunderstandtheircostsontheprogramandhowthehourlyratecomparestotheAmerenIllinoisstandardfixedrate.Keepinmindthatthisisnotanewcharge.YouarealreadypayingtheRTPSupplierChargeasaseparatelineitemonyourbill.ThechangeisthatitwillbeincludedinthehourlypricinginformationprovidedtoyouinthePowerSmartPricingtools.Weexplainfurtherbelow.

    ThePowerSmartPricingprogramgivesresidentialcustomersdirectaccesstohourlyelectricitypricesthatarebasedonwholesalemarketpricessetbyMISOtheMidcontinentIndependentSystemOperator,Inc.Eacheveningafter5p.m.,hourlypricesforthefollowingdayaremadeavailabletoparticipantsonline,byphone,andonthePowerSmartPricingmobileapp.Pricesarepostedtohelpparticipantsbettermanagetheirelectricitycostswiththehourlyrate.

    EffectiveJune1,2015,theRTPSupplierChargeratewillbeincludedinthehourlypriceofelectricitythatisdisplayedtoPowerSmartPricingparticipants.Thischargecoversthecostsoftheadditionalsupplyservicesrequiredforprovidingelectricity.Inthepast,thepricesdisplayedtoparticipantshaveonlyshownthedayaheadpriceofelectricitythatissetbyMISO.However,duetoarecentincreaseintheRTPSupplierChargerate,wefeltitwasimportanttoaddthischargetothehourly,dayaheadpriceofelectricitythatisdisplayedonline,byphone,onthemobileapp,andthroughthePSPtwitterfeed.

    TheRTPSupplierChargeratehasincreasedfrom0.178centsperkWhto1.636centsperkWhfortheJune2015throughMay2016period,basedonMISOsPlanningResourceAuctionresults.TheRTPSupplierChargecouldbeaslargeas50percentoftheDayAheadEnergyChargeforPSPcustomers.ThechargerateisacentsperkWhvalueandissetfora12monthperiod.Itisthesameduringthe

  • 9/8/2015 ANoteaboutHourlyElectricityPricesPowerSmartPricing

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    summerandthenonsummermonths.(NotethatyourindividualRTPSupplierChargelineitemonyourbillisbasedontheSupplierChargerateperkWhandyourtotalkWhusageduringthebillingperiod.)FortheAmerenIllinoisstandardfixedrate,thischargeisfactoredintotheEnergySupplyCharge,sotheeffectonPSPsavingsshouldbeminimal.YoucanreducetheimpactoftheRTPSupplierChargebyusingelectricityefficientlythroughouttheyear.

    ByaddingtheRTPSupplierChargeratetothehourlypricinginformation,wehopeparticipantswillbeabletobetterunderstandtheircostsontheprogramandhowthehourlyratecomparestotheAmerenIllinoisstandardfixedrate.PleasecontactthePowerSmartPricingteamat18776556028orinfo@powersmartpricing.orgifyouhaveanyquestionsabouthourlypricesoryourparticipationintheprogram.