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.
Today marks the first day of October and you have likely made some changes in your home climate control (or soon will be.) If you’re in a warm part of the country like Texas, your electricity needs may be decreasing significantly as the weather cools-off and you can turn-down your air conditioning. If you’re in a cooler part of the country like Illinois, your electricity needs may be increasing as you need to heat your home. For many of Energy Simply’s customers, electricity usage varies by more than 2x between the summer months and the winter months.
If you’re not already signed-up as a customer of Energy Simply, having us keep you in the best electricity plan for YOUR home, now is a great time to consider signing-up. Learn more about how Energy Simply saves you significant money by keeping you in the best electricity plan for your home at: https://www.energysimp.ly/how-it-works.
We get this question more often from Illinois customers, rather than Texas. Both Illinois and Texas are deregulated energy states. That means that people can choose which “retailer” they purchase their energy from. The difference between Illinois and Texas is that Illinois has a “default” retailer which is the well-known utility, Comed. All Texans have to choose an electric retailer in order to obtain their power.
So, the simple answer is: YES.
However, once you’ve signed up with Energy Simply, you won’t ever have to worry about changing power companies again. It can be a hassle to navigate the hundreds of companies and thousands of plans to figure out which one is right for you. That is why Energy Simply monitors the markets and takes care of the switching – saving our customers hundreds and hundreds of dollars.
For answers to more of your questions, click on the FAQ category, located on the right hand side of this blog.
At Energy Simply we love our customers – and it appears they love us! We’ve been growing at a steady clip because our service is all about conveniently saving money – we take care of choosing the best electric plan and switching energy companies for you so you’ll always be in the cheapest or cheapest renewable plan.
The less obvious part, which we have come to learn, is that the majority of our growth is due to customer referrals! Our customers love us so much they are encouraging their friends and family to sign up with us. We don’t want to be free-riders on that love, so as a way to say THANK YOU we are offering $10 for every signed up customer referred to us. There’s no limit either, we will pay $10, $50 or $500 – we will be happy to encourage people to spread the word about our company.
Even If you don’t live in Illinois or Texas, you can still go to our referral program page to sign up to refer people you know who do live there. Once they’re signed up, we’ll process payment and put it in the mail. And…Thanks!
Why am I receiving so many electricity offers in the mail? Should I be switching to one of them if they say they’re the cheapest?
If you live in Texas or Illinois you will receive lots of offers in the mail from electricity companies claiming to be the greenest or the cheapest. That is because Illinois and Texas have opened up the retail electricity market to competition. If you’re one of our customers there’s a good chance you’ll get lots of mail from these companies because they will recognize that you’re shopping the market (or, more accurately, that we are shopping the market for you).
Here’s the thing – a lot of those offers come with pitfalls. Perhaps they are offering a low introductory rate, or perhaps they have a variable rate and they’re counting on you being too busy to pay attention when it skyrockets. Either way, there is no electric company in existence who’s bottom line is your top priority!
We welcome your questions when you receive these offers. After all, our top priority is your bottom line! Our business model is based on saving you the most money on your electric. We are happy to provide free advice on the offers – or, if you just don’t want to worry about it you can sign up for our service and we will take care of it for you. From monitoring the market, to identifying and getting you into the best plan to switching you when we can save you even more – we take the hassle and uncertainty out of buying electricity for your home.