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Understanding how customers will respond to prices that vary by time of day is becoming critical for utilities and policy makers. Accurate predictions of how many people will respond to dynamic prices, and how much they will reduce consumption on peak - is a key factor in evaluating the cost-effectiveness of advanced metering deployments. It also is becoming a critical metric in regions where reserve margins are shrinking rapidly, and where demand response may represent a resource that can be developed more quickly than new supply. This e-forum will convene leading experts to review the results obtained from the most significant smart metering pilots and programs in North America. It also will describe a planning tool that is available to any utility and any jurisdiction to help predict the impact of dynamic pricing. This spreadsheet-based modeling platform, called PRISM, takes utility-specific data such as customer demographics and weather, and produces a forecast of the benefits from smart meters, smart thermostats, and dynamic pricing.
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