ComEd customers warned of higher summer power bills
The Brief
ComEd electricity supply prices will rise sharply on June 1, adding about $10.60 per month to customer bills.
The Citizens Utility Board (CUB) says the price hike will last at least a year, driven by high capacity costs and policy issues.
Consumer advocates point to a state law that will offer partial relief and urge customers to explore assistance options.
CHICAGO - Starting next month, ComEd customers can expect to see a noticeable increase in their monthly electric bills, according to the Citizens Utility Board, a nonprofit consumer watchdog.
What we know
Beginning June 1, ComEd's electricity supply rate will rise to roughly 10 cents per kilowatt-hour—up about 45 percent from last June's rate of 6.9 cents, based on a CUB review of recently filed tariffs.
This increase could translate to an extra $10.60 per month for the average customer, and those higher rates are expected to remain in place for the next 12 months.
The rate hike covers the supply and transmission portion of the bill, which typically makes up more than half of a customer's total charges. ComEd, by law, cannot profit from this portion of the bill—it passes these costs directly to consumers.
What they're saying
ComEd, in a statement, acknowledged the potential financial burden and encouraged customers to explore bill-assistance options listed on its website.
"Beginning this summer, the average monthly residential customer bill in the ComEd service territory is expected to rise by about $10.60 due to the annual PJM Interconnection capacity auction held last year. These costs go into effect in June and will be reflected in the "supply" portion of customer bills, which ComEd passes on directly to customers with no markup. ComEd does not profit from this increase, was not part of the auction, does not supply capacity, and does not retain any proceeds of the capacity charge payments. ComEd is responsible for the "delivery" portion of bills, which pays for the work ComEd does to maintain and upgrade the system to ensure safe and reliable electric service for all customers.
"We fully understand that rising supply costs pose a challenge for customers, which is why we continue to offer our full range of bill-assistance options that, so far this year, have connected nearly 110,000 customers to more than $31 million in financial assistance and other support options. We also offer a comprehensive and award-winning energy-efficiency program that helps families and businesses manage their energy use and save money on monthly bills. Customers can visit ComEd.com/BillSupport to find the programs they may qualify for."
What we don't know
It's unclear how much relief ComEd customers will see from a credit tied to a state energy law, the Climate and Equitable Jobs Act (CEJA), which is expected to vary month to month.
"We're glad CEJA gives customers some relief in the short term, and in the long term we will continue to work at fixing the root causes of this price spike, mainly poor policy from PJM Interconnection, the power grid operator for northern Illinois," CUB Executive Director Sarah Moskowitz said in a statement. "As we advocate for pro-consumer reforms at PJM and the State Capitol, we also urge ComEd to work with customers to keep them connected this summer."
CUB has launched CUBHelpCenter.com to provide energy-saving tips, links to assistance programs, and advice on avoiding costly alternative electricity deals.
The Source
The information in this article was provided by Citizens Utility Board (CUB) and a statement from ComEd.
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