ComEd Electricity Rates to Rise

Commonwealth Edison (ComEd) the utility serving nearly 4 million residents in the Chicagoland area,  just released their upcoming price to compare, and it’s shockingly high.

Beginning June 1st and running through September, ComEd residents who have not switched suppliers will be paying a rate of 7.596 c/kWh, which is 40% more than the current rate of 5.523.

And, it’s not going to get better. In October, the rate will still remain high, at 7.42 c/kWh and last until May of 2015.

Simply, the price to compare is the price you pay if you do not switch to a different electricity plan. It’s the default rate for Northern Illinois, including the city of Chicago.

There are two groups of people who will not be paying the price to compare rate. First, those whose towns have switched to an alternative supplier through municipal aggregation, and those who have chosen a different electricity plan independently.

If you live in the city of Chicago, you have been switched to a new rate that’s slightly less than this rate, by 1/10 of a penny. The good news is, you can pay less than that rate.  In fact, Choose Energy offers 8 plans in the city of Chicago that cost less per kilowatt hour (kWh) than the new upcoming Chicago municipal aggregation rate.

If you do nothing, your next  electricity bill be will substantially higher than what you’re currently paying.

Why The Rate Spike?

This ComEd electricity rate spike is because of 3 reasons:

•  Changing market conditions and increased electricity market prices
•  Recouping losses from the unexpectedly cold winter
•  Hotter summer weather, which means higher electricity usage

You don’t have to stay with this ComEd electricity rate. Luckily, Illinois is deregulated, which means that you can choose a different energy provider. You can opt for a cheaper, shorter, longer, or greener plan and avoid paying 7.596 c/kWh ComEd electricity rate.

[Learn More: Illinois Electricity Deregulation]

By shopping online, and comparing the rates in your area, you can see which plans are the best fit for you. Right now, Choose Energy offers 10 plans in the Chicagoland area that are less expensive than the new ComEd electricity rate. Visit ChooseEnergy.com to compare, switch and save today!