Freedom Energy Logistics (FEL) and Halifax American Energy Company (HAEC) Real time customers in New England enjoyed a record breaking 29 $0 dollar hours between July 5th and July 6th.
These $0 dollar hours are highly beneficial for large end users who have opted to buy their electricity with Real-Time pricing through Freedom. Real-Time customers benefit from the fluctuations between demand and forecasted supply in the Energy grid. Which means, when demand is low, prices drop as well. Large end users who were operating during the July 5th and July 6thtimeframe benefited from the equivalent of more than an entire day of free electricity. What a great bonus for running during the holiday weekend.
What causes these $0 dollar hours? At a 5000 foot view, $0 hours happen when demand for electricity on the power grid, is less than forecasted, causing a significant price drop in order to get the “extra” power off of the grid. Real-Time Energy end users benefit from this as they pay real time market price for their electricity use.
Howard Plante, VP of Procurement at FEL and HAEC, had this to say about Real-Time pricing “Real-time Pricing is not for the untrained. You need to keep an eye on the markets and what’s coming up. We work with our Real-Time customers, teaching ways to anticipate trends. We also keep them informed of what we are seeing.”
29 hours for $0 electricity is certainly something to celebrate!
Curious about how FELPower can save you money on your electric supply? Call us today at 603-625-2244 or email Solutions@felpower.com