The first step in being a smart consumer is to better understand the price of things. Now consumers in southeastern Pennsylvania can easily see the wholesale price of electricity and learn what a megawatt-hour of power really means with an electricity price ticker on local websites.
PJM Interconnection, along with the University of Pennsylvania’s Institute of Urban Research (IUR) and other local partners, is teaming up to provide a real-time electricity price ticker on selected websites. The Electricity Price Ticker is a data stream from PJM with the real-time locational marginal price (LMP) for the PECO Energy zone,
the wholesale price for southeastern Pennsylvania. The color background in the graphic corresponds to the price in the legend of PJM’s LMP contour map.
“You can find the time, temperature and the current price of gas just about anywhere. What about the price of power–something you rely on every day,” says Susan Covino, senior consultant in PJM’s Markets Division.
This week, throughout Penn’s campus in University City, Penn’s IUR is promoting the price ticker and website to the campus community of more than 40,000 students, faculty and staff. The ticker is the centerpiece of an awareness campaign to increase the public’s understanding of the connection between the wholesale price of electricity and individual consumer use. Consumers who check the ticker from time to time also will s
The other partners are the University of Pennsylvania’s Facilities and Residential Services, the Greater Philadelphia Innovation Cluster for Energy Efficient Buildings, Philadelphia Industrial Development Corporation, Penn State’s GridSTAR, and PECO. ee the variability of electricity prices by time of day and season.
Clicking on the price ticker takes visitors to a landing page that explains what the price ticker means and directs them to the partners’ individual websites for consumer education. PJM’s landing page, which is within the PJM Learning Center, features an infographic explaining what it takes to use a megawatt-hour of power.