How it Works
How do you save money by enrolling in PeakRewards℠?
By enrolling in this program, you can save up to $100 per summer with a matching $100 bonus in your first year of participation. The amount you save depends on what percentage of the time you choose to allow BGE to cycle your device (thermostat or switch). The percentages of time you can choose from are called cycling participation levels or cycling options, and there are three different ones to choose from. Below, we have explained what cycling is, what the three cycling participation levels are and how they affect your savings.
What is cycling?
Cycling refers to the number of times that your outside air conditioning (A/C) compressor turns on and off during a one-hour period. BGE is offering different incentive levels based upon the percentage of time that you select for your A/C compressor to stay off throughout each hour period during a cycling event.
Typically, cycling occurs between the hours of 1 p.m. and 7 p.m. although the actual start time, end time, and duration of each cycling event will vary. The length of a cycling event will depend on the type of event (emergency or non-emergency) and the need for BGE to reduce demand. BGE is unable to predict the number of times it will cycle air conditioners each year. Historically, BGE has averaged seven cycling events per season. Cycling events will typically occur during the months of June to September.
What are cycling participation levels?
This is a key component of the PeakRewards℠ program. As a PeakRewards℠ participant, you are able to choose among three different program options with
respect to your cycling participation level during regional emergency events.
50% cycling option: If you select this option, you will receive a $50 seasonal incentive which will be applied in bill credits in the amount of $12.50 per month from June through September. Look at the image at the bottom of this page to see how your credit would appear on your bill. Choosing this 50% option also means that your air conditioner's compressor will run for half of the time it would have run if it were not for the cycling event. This is the default option for new participants.
Keep in mind that your fan will continue to operate though your compressor is off and you will probably not even notice a change in temperature in your home. This cycling option is a good choice if you are typically home during the afternoon and early evening on weekdays.
75% cycling option: If you select this option, you will receive a $75 seasonal incentive or an $18.75 credit to your bill per month from June to September. Choosing this 75% option also means that your air conditioner's compressor will run for a quarter of the time it would have run if it were not for the cycling event.
You will probably not even notice that you are being cycled, as the typical home would experience a temperature increase of about 2 to 3 degrees during an event. Again, keep in mind that the fan will continue to operate though your compressor is off. This option is a good choice if you are typically in and out of your home during the afternoon and early evening on weekdays.
100% cycling option: Choosing the 100% cycling option means that your air conditioner's compressor will not run for the duration of the cycling event. If you select this option, you will receive a $100 credit per season, or $25.00 per month from June to September. The typical home may experience a rise in the overall household temperature of between 5 to 8 degrees during an event with this option. Your fan will continue to run even though your compressor is off. This option is a good choice if you are typically not home during the afternoon and early evening on weekdays.
View larger version of the image below.
