Everything You must Know about Demand Response Program
Say that you’re a customer of business electricity with somehow a huge amount of electricity consumption, then you might want to take advantage of demand response program as a way to reduce electricity bills. There are a lot of electricity suppliers that are offering these programs to offer incentives to bigger customers in an effort to cut back on usage of electricity especially during peak electricity demand.
As a matter of fact, the CPP or Critical Peak Pricing, is one of the common kind of demand response program. On this program, business customers are being provided with a cheaper electricity rate for most of the year in response to the high electricity rates throughout few critical peak periods. In these critical peak periods, these are normally hot summer afternoons when numerous clients are using and operating their ACs and are oftentimes declared one day ahead in response to forecast the high temperature for following day. In the event that businesses can reduce their electric consumption for several hours of the critical peak periods, then taking advantage of this critical peak pricing program could be the perfect way of enjoying cheap electric bill.
Yet another form of demand response program is demand bidding program to which the business bids a certain amount of electricity demand stating that it’ll give up on peak demand period. These periods are typically declared as well one day ahead. Although, some of it might be declared on the actual event. In this program, the business then receives bill credit assuming that they have met some or all of the bid in reducing electricity demand. On the other hand, assuming that they haven’t able to reduce their electricity consumption, then they’ll be penalized. This program may be more encouraging as well to businesses that seek options of saving money to their electric bill by means of reducing demand throughout peak periods. Once again, if you cannot reduce demand in several periods, then you may likely pay large sum of money.
As a matter of fact, it would all depend to your electric provider as you may likely have several other demand response programs that may be applicable to your business. Few of the common themes for this program is that, they will be rewarding you for the reduced electric demand you are consuming especially during peak hours. If your business can do such this, then you are more likely to find demand response program that could help you big time in saving money towards your monthly electric bill.
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