The costs and benefits of real-time pricing: An empirical investigation into consumer bills using hourly energy data and prices

This study analyzed smart meter data to compare how residential consumers would have fared in 2016 under traditional, flat-rate electricity pricing versus the 'real-time pricing' program offered by Illinois utility Commonwealth Edison. Although further study is needed with more customers and multiple years, 97% of households in the study would have saved with real-time pricing. The average savings would have been $86.63, or 13.2%, annually. Total savings would have been $29.8 million.