Reliant Energy, the Texas-based electricity provider, took time at the recent CES 2012 conference to illustrate one of the key technologies consumers have to lower electricity bills in the open market, according to AzoSensors.com.

The company developed its e-Sense Home Energy Monitor as a powerful tool for homeowners to monitor their energy usage and make the best use of the electricity rates that vary based on time of day.

These types of electricity rate plans have become more popular as electricity deregulation continues to spread, particularly in Texas where growing electricity demand and declining investment in new generation capacity has put some strain on the electrical grid.

The e-Sense allows homeowners to monitor their electricity usage in 10-second intervals. This allows residents to put an actual price on their electricity usage, allowing them to better appreciate the value of investing in energy efficient appliances and other cost-saving measures.

Reliant has already distributed 3,500 of these tools, primarily to low-income families, and another 6,500 will be installed soon.

CleanTechnica notes that Reliant, and its parent company NRG, will be displaying the new technology and its potential benefits for homeowners in a mobile home equipped extensively with energy efficiency improvements.