The com ed electricity rates you pay are an important component of the overall cost of electricity. You have the option to purchase your electricity supply from any of the energy retailers in Illinois.
Customers can now buy their electricity supply from any provider they want, thanks to an electricity market that is not regulated. Keep in mind that ComEd, a regulated utility will continue to be accountable to maintain the infrastructure that supplies electricity to your home and business.
ComEd will add the “transmission service charge” to your electric bill. This covers the cost of the delivery of electric power to your home through the transmission network. Additionally, you will receive a “purchased electricity adjustment” that is calculated monthly and capped at 0.5 cents/kWh.
A Time-of-Day Rate
A new pilot “Rate RTOUPP”, will begin in June 2020. It will offer residential elective bundled services customers more certainty through pricing structures that have three distinct times. Prices will be highest during peak times , and lower during off-peak times. You can save money on your utility bills by making use of more power when costs increase and using less power when they fall.
For more details on the pilot program and how you can apply for it, please contact the ICC. If you do not choose not to in the future, you’ll automatically enroll in the RTOUPP program when you meet the requirements.
Selecting the Right Retail Electric Supplier
When you compare electric prices for supply from different providers You should take into consideration their commitment to renewable energy. Certain suppliers charge higher prices than others for the same amount of renewable energy.
Another important consideration is their customer service. You should choose a company with a good reputation for customer service such as ComEd.
The top electric providers offer flexible payment options that permit you to pay a lower amount for electricity, or a set amount for the duration of the contract. You can also enroll in green power plans to support renewable energy sources.
Plug in Illinois is an online resource to help Illinois consumers understand the benefits of the energy market that is not regulated and switch suppliers. It offers a wealth of information on how to navigate the electric supply markets and helps you to find a new retailer that suits your requirements.
Residential customers can choose from four rates: Fixed-Price Ratio (BES), Hourly Pricing, Time-of-Day and the Fixed-Price Rat (BES. Each of these options comes with its own unique conditions and terms that need to be read carefully.
ComEd’s BES rate is the default option for supply for residential customers unless they choose to join other supply options. ComEd’s rate isn’t subject to change as are other alternative suppliers and typically surpasses the ARES rates. ComEd doesn’t charge cancellation fees or early termination fees if you decide to change your supply.