Duke Power's Save-A-Watt Expansion Proposal

Duke Energy Corporation's CEO Jim Rogers wants to expand the firm's save-a-watt program -- an approach to energy efficiency that would allow the utility to make money by persuading customers to use less electricity.

"Under the save-a-watt model, utilities would pay for programs designed to help customers buy energy efficient appliances, weatherize their homes and install special circuit breakers to cycle appliances on and off depending on the time of day. The cost would be passed on to customers through higher rates. Duke would charge customers 90 percent of what it would have cost to provide the electricity that was saved. Duke says that's a 10 percent savings. The utility only gets paid if the programs work. The power savings would be tracked by a third party."

Jasmin previousl covered the Clinton Global Initiative commitment for the Save-A-Watt plan.

"...Customers' bills would fluctuate depending on how many efficiency programs they were using. Even with the added fee, a customer might end up saving up to 6 percent. If customers don't take ad antage of the program, their bill could increase by 4 percent, estimates Ted Schultz, Duke's vice president for energy efficiency."

For background, see also: this earlier coverage as well as this one. Download the Duke fact sheet on Save-A-Watt here.

Via::Trading Markets Stock News, Image credit:: Duke Energy Hanging Rock, Stellar Power

Tags: Conservation

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