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Real Time Pricing (RTP) provides utilities and their customers with a means to enhance the value of both existing and new electric service programs. This paper reports on a first full scale experiment on the RTP based control of thermal storage, which was implemented during the winter of 1989-90 under funding from EPRI and New York utilities and energy agencies. Three customers with electric thermal storage (ETS) systems were placed on an experimental RTP rate for their heating load only. A complete automated RTP based control system was designed and retrofit in place of the existing time of use (TOU) based control system. This paper describes the design, development, and implementation of the experimental RTP rate, customer response algorithms, and the energy management system (EMS) for RTP control of two of the sites with water based storage systems. Costs to the utility of provision of service went down by about 10 percent beyond savings achieved under the TOU based control system over a system with no storage.