In 2009, the aggregate savings for PSP participants was $1,388,996 which represented a 23.6% total savings compared to what the same bills would have been under the standard rate. Average annualized savings were $304.98 or 24.4%. These percentage savings are three times greater than what was seen in 2008, largely due to the low market prices for electricity.
This estimate of bill savings does not include the additional savings that comes from the conservation effect of the program. Including an annual decrease in consumption of 151 kWh per customer at roughly ten cents/kWh for energy and distribution, there is an additional $15.10 that the average PSP participant avoided paying in 2009. If that savings had been included, the average annualized savings would have risen from 24.4% to 25.6%. For 6,652 participants, that represents an additional annualized aggregate bill savings of $100,445.
This report is a result of the continuing work of a Summit Blue Consulting, now a part of Navigant Consulting, to evaluate the Power Smart Pricing program as a third party. CNT Energy prepared the 2009 Power Smart Pricing Operational Report which can be found in Appendix A. Readers who are not familiar with the Power Smart Pricing program may find it helpful to review Appendix A before reading this evaluation report.
