Perfect Power: Consumer Control & a New Marketplace for Power
In the Perfect Power System, electricity consumers will be able to choose the quantity and quality of power that best meets their needs. For example, industrial consumers may opt to pay for the highest quality and most reliable service, while those concerned about the environment might choose to pay a premium for electricity generated by a renewable fuel. Consumers will be kept informed, in real time, of the fluctuations in the cost of power, and will have the ability to manage their energy and pay for it accordingly. Consumers will no longer pay for kilowatt hours of bulk electricity, but for carefully designed service tailored to best meet their needs.
Why is it better?
- Reliability: Consumers will be able to choose whether they want to pay for the highest level of reliability — as commercial users most likely will — or some lesser degree, as may be sufficient for most residences. Reduction in demand at peak times because of demand response will also help ease congestion and the potential for outages.
- Efficiency: Everyone will pay for only the electric services they want and use: No more and no less. Less infrastructure will have to be constructed because consumers will use less power at peak time, eliminating the need for expensive power generating facilities that are only necessary a few times a year.
- Cost: Today, the lack of a smart power system costs the U.S. economy about $150 billion per year through unreliable service alone. This is the equivalent of at least a dollar additional “tax” on every dollar of electricity that retail consumers purchase. The nation’s outmoded power system is also a significant drain on productivity and competitiveness in today’s global economy. At least a trillion dollars in gross domestic product is already being lost each year as a result and that cost is growing rapidly as the digital economy expands. Individual consumers cannot and must not tolerate this drain on personal and national economies.
