Reduce your electric bill by comparing electric rates today!

ComEd Rate Hike Means Electricity Bills are Going Up

Commonwealth Edison Co. (better known as ComEd) is a popular major utility provider in Illinois. Customers have been using this provider for a long time and feel comfortable with that choice, more or less. However a recently approved rate hike means that ComEd customers are going to see a monthly increase to their electricity bills. It may be the right time for ComEd customers to think about switching to a lower cost alternative energy supplier.

The Illinois Commerce Commission has recently approved a $156 million rate hike that ComEd requested. This reflects a 7.6% increase in the current revenues for the large utility company. More important, it means that the average residential ComEd customer is going to see a $3.15 increase on monthly electricity bills. This adds up to approximately $40 per year more in electricity bills, money that could stay in your pocket if you choose to switch to an alternative electricity provider.

In addition to the general frustration of increased rates, ComEd customers should be aware of the fact that watchdog groups say that the rate increase itself is unfair. The last time that ComEd faced a rate hike decision was in 2008 and at that time the Supreme Court ruled that ComEd’s profit margins were already high enough. Watchdog groups say that this information is still true and that ComEd should actually be significantly lowering their rates, not increasing them. This makes the approved rate hike seem grossly unfair to the customers.

The rate hike goes into rapid effect on June 1st. Customers who don’t want to pay exorbitant energy bills should begin shopping around to find a lower priced IL electric company. There are many companies offering highly competitive prices and switching to one of them is very easy. Why pay more than is fair for the energy that you use at home?

Source: http://www.chicagotribune.com/business/breaking/chibrkbus-icc-set-to-rule-on-comed-rate-hike-request-20110524,0,2257394.story

 


Publish Date: 2011-06-01 11:08:12

Illinois Electric Rate Articles

Electric News & Information

Electric Rate Search Status

    Would you like to compare electric rates in your town? By doing a search on our site we will allow you to compare electric offers to reduce your current electric bill.

    Start an Electric Rate Search Now!