It took Xcel Energy project manager Wade Cruser a little less than three minutes to pop the old electric meter off the side of a Littleton home and slap on the future of electricity use and billing for utility’s Colorado customers — a “smart meter.”
These meters read household energy use in real-time and report it back to Xcel. They will give customers a clearer and more precise picture of their energy use and enable Xcel to implement time-of-use rates, charging more at peak demand times and less during low-use periods.
The time-of-use rates are designed to be revenue neutral, so that Xcel does not receive more revenue than it gets now for selling kilowatt-hours at a flat rate. Customers also have the ability to opt-out of the time-of-use rates.
Under the time-of-use rates there will be three sets of charges for three different time periods.
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