ComEd rates to rise
Wednesday, May 7, 2014 - Posted by Rich Miller
* Tribune…
Customers who receive energy from Commonwealth Edison will see a 38 percent increase in the price of electricity as a result of rising costs to reserve power from power plants.
According to regulator Illinois Commerce Commission, the cost of electricity, coupled with reservation fees and transmission costs, will rise to 7.5 cents per kilowatt hour from 5.5 cents per kilowatt hour next month.
The average ComEd residential customer uses approximately 655 kilowatts of electricity per month, according to ComEd, which, together with delivery costs would increase bills by 21 percent from about $68 to about $83 per month.
* More from Steve Daniels at Crain’s…
ComEd’s price is largely in line with deals municipalities have struck recently with outside energy marketers to supply power to their residents and small businesses. In many cases, savings from these municipal contracts will be minuscule.
For example, ComEd’s 7.596 cents is slightly above the 7.47 cents average apartment and condo dwellers will pay in the city of Chicago under a one-year deal with Chicago-based Integrys Energy Services. That’s a less than 2 percent savings on just the energy portion of the bill and a 1 percent savings overall.
But owners of larger single-family homes, which consume more energy, actually will pay an energy charge of 7.63 cents, which is slightly higher than ComEd’s. […]
On the other hand, some suburbs still will enjoy significant savings from ComEd. The northern suburbs of Wilmette, Northfield, Glenview and Kenilworth, acting together in a consortium, recently negotiated a 6.72 cent-per-kilowatt-hour price with supplier MC Squared for the next year. That’s an 11.6 percent savings on ComEd’s energy price, or about 7 percent for the electric bill as a whole.
- wordslinger - Wednesday, May 7, 14 @ 2:06 pm:
–The average ComEd residential customer uses approximately 655 kilowatts of electricity per month, according to ComEd, which, together with delivery costs would increase bills by 21 percent from about $68 to about $83 per month.–
That’s some real money. But you’re not going to see thousands of stories and editorials on this like you do regarding income or property taxes.
Utilities are smooootttthhhhh…
- Birdseed - Wednesday, May 7, 14 @ 2:26 pm:
== That’s some real money. But you’re not going to see thousands of stories and editorials on this like you do regarding income or property taxes. ==
Rightly so. I pay $15 in property taxes almost twice a day - every day.
Just let that sink in…
- Plutocrat03 - Wednesday, May 7, 14 @ 2:35 pm:
As the low cost generators are phased/forced out the lost production has to come from some where. Natural gas (requires a large upfront investment to convert from coal), wind and solar are more expensive than coal. It does not help that nukes are retiring without being replaced, hydro capacity is lower die to various environmental concerns.
Save those pennies because higher costs are a common’. I’m more than 50% LED as far as light sources are concerned.
- Former Downstater - Wednesday, May 7, 14 @ 2:43 pm:
My monthly bill just jumped from $82 to $108.
- Skeptic - Wednesday, May 7, 14 @ 2:53 pm:
There’s always someone worse off than you. I pay $.12/kWh.
- How Ironic - Wednesday, May 7, 14 @ 2:56 pm:
Move to Springfield! CWLP rates are pretty stable, so if you get tired of Chicago, come on down.
- Sun - Wednesday, May 7, 14 @ 3:13 pm:
The smart grid system is really paying off.
- Walker - Wednesday, May 7, 14 @ 3:26 pm:
Sun: ==”The smart grid system is really paying off.”==
Brilliant.
That’s Michelle Flaherty quality — the highest compliment available.
- Skeptic - Wednesday, May 7, 14 @ 3:38 pm:
Ameren was having a Smart Grid meet-and-greet here in Springfield too. I was wondering what was up.
- Chicago Cynic - Wednesday, May 7, 14 @ 3:44 pm:
“The northern suburbs of Wilmette, Northfield, Glenview and Kenilworth, acting together in a consortium, recently negotiated a 6.72 cent-per-kilowatt-hour price with supplier MC Squared for the next year. That’s an 11.6 percent savings on ComEd’s energy price, or about 7 percent for the electric bill as a whole.”
The rich get richer. Or in this case, they apparently (or their consultant) were much smarter than Oak Park and others who are paying the higher rates.
- zatoichi - Wednesday, May 7, 14 @ 3:45 pm:
Really depends on where you live and how you measure. Our 3 year contract at work is for $.048 kw. It knocked 30% off our bill from last year. Local city residential aggregation is $.044. Delivery charges are extra, but the total is still far below the $.112 we used to pay for electricity and delivery before deregulation.
- DuPage - Wednesday, May 7, 14 @ 4:11 pm:
Capitol improvements are normally paid by the stockholders. Smart meters are to save ComEd money by reducing their workforce. Instead they want the customer to pay for the smart meters and ComEd keeps the savings as extra profit. The Illinois commerce commission should not approve of it.
- Abe the Babe - Wednesday, May 7, 14 @ 4:19 pm:
First off, people should realize these charges are for the SUPPLY of energy which ComEd just passes through not the DELIVERY. They are based on wholesale contracts entered into in the competitive marketplace (if there is such a thing for energy markets). The ICC has little to nothing to do with this.
As for the annual delivery increases, the ICC’s hands are tied thanks to the General Assembly! whats the rate of return on those utility lobbyists from 2011? 5 million in lobbyist expenses versus over 400 million in new revenues?
- Team America - Wednesday, May 7, 14 @ 5:24 pm:
On the drive home I heard ComEd’s ear-worm radio jingle on WBBM promoting its $700 million dollar program to put cash back in customer’s wallets for taking advantage of green initiatives like fridge recycling. At the very end of the announcement, almost so fast and garbled as to be incomprehensible, the disclaimer says something to the effect of “program paid for by ComEd rate-payers pursuant to Illinois state law.”
So, Com Ed is promoting the $700 million of its customer’s money (me included) that it is giving back to a small subset of customers, while planning to jack up the rates 38%.
I agree with whoever said the utilities were smooth - but will people remember the jingle when they open their electric bill?
- Just Me - Wednesday, May 7, 14 @ 7:03 pm:
What?!?! It’s been like two hours and no press release from Governor Quinn?
- OVERSIGHT - Wednesday, May 7, 14 @ 9:01 pm:
When did the Il GA start running ConEd (no mis-spelling) ? Only the Ga has the ability to jack up revenues and claim it as a cost saving to everyone!
- Toure's Latte - Thursday, May 8, 14 @ 9:09 am:
Higher rates=higher taxes collected on the bigger bill. State tax is about 2.65% and my muni tax is about 3%. Multiply that out by millions of household customers, and just the increase generates tens of millions in new taxes, for which no politician has to go on record voting Yes.