Chicago Power Companies
People living in Chicago might be surprised to learn that they have a choice when it comes to who provides them their electricity. Electric choice became law in Illinois in 1997, but not until recently have residential customers had options of electric companies to choose from. New Chicago power companies have started to enter the market and are offering low electric rates to customers of ComEd.
Many Chicagoans are reluctant to shop and compare energy rates because they are uncertain of how choosing a new supplier will effect their electricity service. What they need to understand is that ComEd will remain the electricity distribution company for all of their customers no matter what electric supplier is chosen. Illinois Electric Choice has divided the electricity business into two sections; electricity distribution (delivery) and electricity generation (supply). People now have a choice of who supplies their electricity generation, and they can shop and compare electric companies to find the lowest rate, longest fixed rate term, green energy options, or the company with the best customer service.
The electricity delivery business remains regulated by the state of Illinois. This means that ComEd, as a regulated utility company, continues to manage and maintain the electricity lines and wires, and they continue to respond to power outages and emergencies. They also will continue to send customers their monthly electric bill, even after a power switch has been made.
ComEd has been taken out of the electricity generation business, by the Illinois Utility Commission, for the territory that they are the regulated distribution company (Chicago and surrounding areas). ComEd is unable to offer competitive pricing for electricity generation to their utility customers. They continue to offer a default supply rate to customers who are slow or unwilling to shop for competitive rates, however they do not profit from the default rates. Revenues from default rates are passed through ComEd to competitive electric companies who have won auctions to serve default rate paying customers. ComEd does not care if their customers shop for lower electricity prices. There revenues in the Chicago area are confined to the regulated delivery charges found on your bill.
Compare electric rates and find prices that are lower than ComEd default rates: