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Now that the 2023 Summer Peak Season is in the books, we can review the results. The table below shows the preliminary peak for 2023 and history for the past seven years. Final revisions will be issued in early 2024, but the peak date will not change, only the exact number of megawatt-hours and potentially the hour of the day.

In order to ensure that Actual Energy captured the peak which occurred on September 7, we notified customers a total of only four times. The other notification days were July 12, July 28, and September 6. This was a very efficient execution for our customers.

In addition, these machinations are well justified economically by the potential cost savings on installed capacity charges. This billing component is likely to be about 1.75 cents per kilowatt-hour (kWh) for the upcoming capacity year beginning on June 1, 2024. For a typical medium-sized customer using 1 million annual kWh and assuming a baseline total cost of 10 cents per kWh, savings for the capacity year could be as much as 17.5% or $17,500.

Annual System Peak Day, Hour and Load

Source: ISO New England