Abstract
This Energy Insights report summarizes key findings from Energy Insights' 2008
National Residential Online Panel Real-Time Pricing Survey. Although some
experts are skeptical about residential customers' interest and ability to
respond to a real-time pricing (RTP) rate, the survey findings, along with the
results of utility pilots and programs, prove that customers can and will
respond to price signals. In this report, we look at consumer interest in RTP
and provide insight into the program features consumers find most valuable. We
also discuss the results of the Illinois Energy-Smart Pricing Plan (ESPP) pilot
and the subsequent Power Smart Pricing program that is currently available to
Ameren' s residential customers.
"As prices continue to increase, customers will look to their utility company
for more ways to manage their energy use and lower their costs. Real-time
pricing is one tool utilities can use to help these customers," says Barb Ryan,
research manager of the Residential Customer Strategies program at Energy
Insights. "Saving money is the key driver of interest in RTP, and customer
expectations may not be realistic. It will be extremely important for
customers' savings expectations to match their results. Education will be
crucial for program success."
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