Real-time #power pricing with Electric Ticker

Customer engagement is essential to the success of any smart utility today.  Smart grids allow two way communication between the utility and it’s customers.  Educating the consumer about electricity consumption is now a key focus for utilities and governments around the world as energy efficiency emerges at the forefront of many initiative and policies.

Today I read an interesting article about the Electricity Price Ticker, launched on April 17 by the grid operator PJM Interconnection and the University of Pennsylvania‘s Penn Institute for Urban Research, provides pricing updates every five minutes for wholesale electricity in the southeastern Pennsylvania territory covered by PECO.

The initiative is believed to be the first of its kind in the world, and is intended to encourage conservation and energy efficiency by increasing awareness of the electricity market, said Eugenie Birch, co-director of the Institute.

The ticker is the centerpiece of an Electricity Price Awareness campaign which aims to increase the public’s understanding of the link between the wholesale price of electricity and their electricity bills by showing that energy-use patterns affect the price of electricity.

To find out more about this initiative then please read the full article here.

If you are interested in finding out more about enhancing customer engagement then you might also be interested in the following blog post NEPCO to explore the impact of smart meters in customer engagement.