I'm in Chicago and I pay real-time prices, averaged by the hour. The program is entirely opt-in and has been around for about 4-5 years now.
You're right that the increasing number of grid-connected devices could lead to problems like this, especially as more and more appliance makers start to add this ability. At the moment I've seen grid-enabled devices used to back down on electricity use during peak times. ComEd offers a GSM-connected box to modulate your A/C compressor during brownout times.
But I've tinkered with a thermostat that superchills my house when the price dives into low or negative space. I guess I never thought about what could happen when 1,000,000 homes do the same thing. Law of unintended consequences I guess.
You're right that the increasing number of grid-connected devices could lead to problems like this, especially as more and more appliance makers start to add this ability. At the moment I've seen grid-enabled devices used to back down on electricity use during peak times. ComEd offers a GSM-connected box to modulate your A/C compressor during brownout times.
But I've tinkered with a thermostat that superchills my house when the price dives into low or negative space. I guess I never thought about what could happen when 1,000,000 homes do the same thing. Law of unintended consequences I guess.