ComEd Energy Choice
True energy choice is now available for electricity customers who are serviced by Commonwealth Edison, referred to as ComEd by many. The choices for energy customers in Chicago, and the surrounding areas of the ComEd territory, is growing as more competitive energy companies enter the market offering low electric rates with favorable terms to customers.
As is usually the case with newly deregulated energy markets, an abundance of confusion exists among energy consumers who want to save on their monthly electric bills, but are not sure if they can trust the energy companies soliciting offers. ComEd customers should understand that all energy companies offering electricity service are licensed by the Illinois Commerce Commission. In addition, after switching to a low alternative rate, ComEd continues to deliver the electricity to your home and respond to power failure emergencies.
Illinois electricity choice has changed the role of Commonwealth Edison. ComEd is no longer in the business of offering electric generation service (the company you buy your power supply from). They are now only responsible for the delivery of the power to properties as well as the management of the power lines and wires. ComEd does offer a default price to compare for customers who do not choose an alternative offer, however, they do not profit from these default rates. The fact is that ComEd does not care if their customers switch to competitive electric suppliers. ComEd earns revenues and profits off of the electricity delivery charges that are found on the electric bill. These charges remain regulated by the Illinois Commerce Commission and are the same no matter which electric supplier you choose.
Shopping for electricity refers to the generation supply portion of the electric bill. ComEd customers can save a lot of money on this portion of the electric bill by comparing competitive offers (see below). However, the delivery charges remain regulated and will be the same amount no matter which competitive electric supplier is chosen. Many ComEd customers fear that if they switch suppliers they will not receive the same service from ComEd if a power failure occurs. This fear is not justified for two reasons; first, the Illinois Commerce Commission ensures that this will not happen as the regulatory agency of the Illinois electric grid, and second, because ComEd really does not care if their customers shop and switch suppliers. It does not affect their bottom line as the revenues from default service are passed on to other energy companies who have the bid to service default customers.
Start shopping for cheap electricity rates in order to get lower electric bills.