CHICAGO, Sept. 30, 2020 /PRNewswire/ -- The Citizens Utility Board (CUB) on Wednesday alerted Ameren and ComEd electric customers to a change in the utilities' electricity supply prices.
As of October 1, ComEd and Ameren are updating their supply rates to reflect non-summer pricing. According to the companies, these are the new Ameren and ComEd prices through May 2021:
Ameren (for people living in Ameren's geographic service territory)
Usage of 0 to 800 kilowatt-hours (kWh): 4.542 cents per kWh*
Usage above 800 kWh: 4.389 cents per kWh*
*This rate includes Ameren's supply price, plus a transmission charge, plus a supply cost adjustment.
ComEd (for people living in ComEd's geographic service territory)
7.067 cents per kWh*
*This rate includes ComEd's supply price plus a transmission charge.
ComEd and Ameren customers pay the utilities to deliver the electricity to their homes, but they have the right to choose either their utility or an alternative supplier to supply the actual electricity.
The utility supply rates above are often referred to as the "price to compare"—the rate customers should compare to alternative supplier offers. Since 2015, Illinois consumers have lost more than $1 billion to alternative electricity suppliers, according to the latest statistics from the Illinois Commerce Commission's Office of Retail Market Development. Knowing the "price to compare" helps consumers make informed decisions about their power bills.
"Consumers armed with accurate information don't get ripped off," CUB Communications Director Jim Chilsen said. "Everyone should know that in the current market, sticking with your utility is likely your best bet."
The utility watchdog advised consumers to visit the electric page on CUB's website, www.CitizensUtilityBoard.org. There, you can find fact sheets on how to avoid rip-offs, videos about where to look on your bill to see if you're with an alternative supplier and information about energy efficiency and other money-saving programs for consumers.
"The most reliable way to save money on your electric bills is through energy efficiency and other clean energy programs offered by your utility," Chilsen said.
CUB is Illinois' leading nonprofit utility watchdog. Created by the Illinois Legislature, CUB opened its doors in 1984 to represent the interests of residential and small-business utility customers. It has saved consumers more than $20 billion by helping block rate hikes, secure refunds, and fight for clean, low-cost energy. For more information, call CUB's Consumer Hotline, 1-800-669-5556, or visit its website, www.CitizensUtilityBoard.org.
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SOURCE Citizens Utility Board