Commonwealth Edison (or Comed for short) is the electric utility that covers most of the Chicagoland Region. According to their website, they supply more than 3.8 million customers across northern Illinois. While it is no secret when their rates are scheduled to increase, many of their customers will be surprised to know that rates are guaranteed to keep climbing incrementally over the next two years.
The current Comed rate is 6.318 cents per kWh. That means if you’re an average user (average sized house, family, appliances etc) your cost might be about $63 bucks per month, not including delivery charges and other fees outside of the cost of electric. Over the next couple years Comed is stepping up prices:
- June 2017 = 6.89 cents per kWh
- October 2017 = 7.15 cents per kWh
- June 2018 = 7.54 cents per kWh
If you’re doing the math then you’ll see that an average user might see a $12/month increase or $144/year. And if you’re an above average user of electricity (heated swimming pool, larger home etc.) your pocketbook will get hit even harder.
Because these prices are tied to the base price of electricity, alternative suppliers will also see increases, but if you’re currently a Comed customer it is a good time to begin shopping the alternative suppliers and actively monitor your costs.
Today we received accreditation from the Better Business Bureau (BBB) and we’re so proud we want to shout it from the mountain tops. However, since we are not on mountain tops and it is rather late at night, we’ll happily post it to the internet via our blog and social media pages.
According to its website, the “BBB helps people find and recommend businesses, brands and charities they can trust.”
Basically they help you, the consumer, know that you’re dealing with a reputable company that delivers on promises. Why does that matter to us? Honestly, because we save people so much money by monitoring and switching their energy supplier that it is a little unbelievable.
If you want to become a believer, sign up at http://www.EnergySimp.ly.
Comed’s electric rates have recently gone down in Illinois prompting the question: what if my cheapest option is the “default” option? In Illinois, if you don’t proactively choose a retail electric provider you auto-default to Comed. This is different from Texas where you must choose a retail electric provider.
For Customers Who Want the Cheapest Electric: There are times when Comed offers a competitive rate, but even when their prices go down, there are typically still a handful of cheaper rates or incentives packages that we can switch our customers into. While the savings might, for a limited time, become smaller they’re still savings. And when prices begin to swing back up – you’ll rest easy knowing that you’re still getting the cheapest.
The Green Answer: Many of our Illinois customers utilize our service to ensure they’re always getting the cheapest 100% renewable electricity. Typically the cost is the same or just slightly more, as outlined in this past blog post. Since we are constantly monitoring and switching our customers into the cheapest rates, our customers often get to take advantage of cash back and gift card incentives from their electric providers as well.
We blogged last week about the seasons changing – and the impact that will have on your electric bills. And it is about to get real in Northern, IL!
We are fans of Danny Neal and the Stormchaser’s blog. This morning we woke up to news from Danny that Illinois can expect multiple inches of snow this Friday night and Saturday morning.
Hop on over to Danny’s blog and follow him on Facebook for great weather tracking…and, after you’ve done that – sign up with Energy Simply so you’ll know that you’re not paying way too much for electricity in these cold, dark winter months.
A large number of people in the Chicagoland area are with their incumbent electricity provider, ComEd, and likely paying too much for electricity.
From, October 2015 through May 2016, ComEd is charging its customers $0.07006/kWh. If you’re in a two-bedroom apartment and using 1,000 kWh/month, you’re paying $70.06 (plus a fixed delivery fee) per month. If you’re in a four-bedroom house using 2,000 kWh/month, you’re paying $140.12 (plus delivery fee) per month.
If you just wanted the cheapest plan, you could be saving about 15% and if you wanted to go green with 100% renewable energy, you could still be saving 5% compared to your default ComEd rate.
Energy Simply actively monitors the Illinois energy market including the nearly 80 plans available for Chicagoland residents as of early October and watches for the best deals for our customers. We automatically switch you to the cheapest electricity provider for your home based on applying our proprietary models to your own energy usage. Learn more at:https://www.energysimp.ly/how-it-works or sign-up at: https://www.energysimp.ly/users/sign_up.
Our company is primarily focused on saving Texas consumers money on their electricity. But we also have a unique offering in Illinois that makes up a smaller percentage of our business.
Anne was an early adopter of the Energy Simply offering and she has been so pleased with our concept that she’s offered to provide customer testimony for marketing. When I first told Anne about our company I wasn’t sure I would have much chance of gaining her business. Her residence is a small, energy-efficient apartment in Chicago so her electricity use is extremely low. But what struck a chord with Anne wasn’t the money she could save – it was the convenient, no-risk way we could guarantee her the cheapest 100% renewable electricity. She’d carried the guilt around for months and months – knowing she could be buying energy produced from wind and solar, but not knowing where to start or how to avoid paying too much. Energy Simply provided the solution and now Anne’s carbon footprint is smaller – and she’s saving a few bucks a month to boot!
To review – even if you’re in a small apartment, Energy Simply can:
-Help you save if the apartment is older/innefficient
-Lower your carbon footprint by getting you the cheapest 100% renewable
-Ensure you’ll avoid expensive variable rate pricing or hidden fees sometimes associated with renewables
Check out our explainer video or contact us to learn more.
If you buy electricity in Illinois there is a good chance you’ve saved a little money due to municipal aggregation. A few years ago when Illinois opened up its retail electricity market the law allowed for companies to negotiate deals with local municipal governments (villages, cities, counties, townships) which typically resulted in cheaper electricity for residents. Okay, hopefully I haven’t already lost you…this is important!
Most of those rates were pretty good – unless you’re in Aurora, IL – your rates are very high and you should call us immediately! But, many of those agreements are set to expire in coming months. One very big example is the City of Chicago who’s municipal aggregation agreement expires in May of 2015. However, there are many other agreements that are set to expire soon.
What that means is there will be uncertainty in the market and potential rate increases. Here are a couple of tips to protect yourself from rate increases:
- Check here to see if your municipal aggregation plan is set to expire soon.
- If it is, check with your town about the new rates.
- Keep a close eye on your electricity bill.
With preparation and research you can benefit from the market uncertainty by getting lower rates from competitors. If you don’t have the time to research and manage the switching – we can do it for you.
Many people (Chicago included) will automatically switch to being Comed customers. If you’d prefer cheaper or greener electricity than Comed offers, sign up with Energy Simply and we’ll keep you locked into the cheapest or cheapest green electricity available at all times.