I don’t know about you but money saved is money earned in my book. If there is a way to save some money I want to give it a whirl! When I got the pamphlet in the mail about ComEd’s hourly billing and that anyone who’s bill is over $50 has to potential to save money I was over the moon.
We have electric everything including an electric forced air heater so our bills can be very high. And by very high I mean we have had bills over $600 and ones close to $700. So saving money on my electric bill was something that peaked my interest.
ComEd Hourly Billing – How to Save Money On Your Electric Bill Every Month
How does ComEd’s hourly billing work?
Currently your electricity price is the same flat rate day in and day out, but with hourly billing your price will be different every single hour! Sounds confusing and intimidating but I promise you it’s not. For our whole first month in the hourly billing program the price per hour was never higher then the 6.5 cents we were paying before the switch.
The price changes based on the electricity usage in your area. So during peak times which are typically 6am to 8am, 12pm, and 5pm to 7pm the price per hour will be higher. Then during non peak times where the usage of power is less your price goes down.
You can check the next day estimates and real time prices so you have an idea on when the peak prices will be and when you should be using the majority of your electricity. Just look at those prices! You can see the times on the left, the middle is the estimated hourly price and then the right is real time price.
You can also see the prices on a line graph to compare the day, week, and monthly prices for you.
You do need to have a smart meter in order to be in this program and then apply and wait for approval which can take a few months.
Can You Save Money On ComEd’s Hourly Billing?
Yes!!! I seriously can not wait to see what our savings will look like this winter. We have saved an average of 29% over the last 5 months! How incredible is that? We may have only saved $8 this last month because it was hot so our hourly prices were pretty steady and higher then they have been. But look at our first month at the end of last winter! We saved $87! That is incredible and right there I knew it was worth it.
Of course not everyone’s savings will be the same as not everyone uses the same amount of electricity but in my opinion anything saved is a win. Am I happy with our savings this last month? No, but we did nothing literally nothing to save that money.
You can get really into this and turn your air down during peak prices, change when you run your high energy using appliances, and watch prices like a hawk and I am sure you would save even more. But honestly with two kids and a blog to run I don’t have time for that! HaHa
I do set the timer on my dishwasher so it runs at 3 or 4am instead of at 10pm and I don’t do laundry first thing in the morning, beyond that we don’t pay attention to it and just go about our day as normal. However, this winter I will keep an eye on prices and see when we should turn the heat up.
Is ComEd’s Hourly Pricing a Fit for Your Household?
If you like to save money and your electric bill is over $50 then yes this is a program that you could benefit from. It is not hard to set up just start here and fill out your information. Then wait to hear from ComEd. Like I said before it can take a few months from application till you are enrolled and started but it is worth the wait.
I mentioned before that when you apply using my referral not only do I get a gift card, but you do too! Currently it is $25 but that can change at any time! Then when you are approved you can share your experience and get more money!
- easy to apply
- save money without changing a thing
- gift card after approved
- share your referral and get more gift cards
So take the few minutes it takes and apply and save your family some money. Use that money to buy yourself something you have been wanting, put it in a college fund, take a fun family trip, or do nothing with it!
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