Lower My ComEd Bill
Illinois electricity customers serviced by Commonwealth Edison (ComEd) now have the ability to lower their electric bills by taking advantage of the Illinois electric choice act. Consumers now have a choice of who supplies their homes and businesses with power, and competitive offers can result in substantial electricity bill savings.
In the past everyone living in Chicago and the majority of the surrounding areas were forced to buy their electricity from ComEd which was the area’s regulated power generation company, as well as electricity distribution company. The Illinois electricity choice act unbundled ComEd so that they are now only responsible for the distribution of the electricity which includes the management and maintenance of the power lines and wires. They are no longer involved in competitive electricity generation and supply for their area.
The ComEd electric bill is divided into delivery charges, which are rates that remain regulated by the state, and electric supply charges, which consumers can shop the market for competitive pricing. If you have not shopped for competitive rates then you are paying a default rate with ComEd known as the “Price to Compare”. The Price to Compare is a term that the Illinois Commerce Commission has created so that consumers can easily compare competitive electric rates to their local utility’s default rate. The electric Price to Compare in Illinois inlcudes the generation rate and transmission rate. All residential electric companies are required to offer their rates with the same components as the utility Price to Compare so that an apples to apples comparison can be made.
Once a switch is made you will continue to receive your electric bill from ComEd. The only difference that is made is the rate you pay for generation and transmission service (the Price to Compare). The rate that you contract out for with a competitive electric supplier will replace the utility (ComEd or Ameren) default rate.
Here are a list of some current competitive electric rates for ComEd residential customers: