Congratulations to John of Millstadt and Michael of Tinley Park for winning $25 off their electric bills after taking CUB’s power price survey!
About 1,200 people took the survey, which accompanied an article on the five key questions to ask about utility rate changes taking effect June 1 (ComEd’s rates are jumping to 7.6 cents per kWh, while Ameren’s rates are dropping to between 4.5- 4.7 cents per kWh).
Consumers chimed in about the best choices for electricity supply in light of the rate changes:
- 40% said the best option was an alternative supplier chosen by their community, also known as municipal aggregation.
- 34% said the best option was the regulated utility, ComEd or Ameren.
- 16.3% said the best option would be an alternative supplier chosen on an individual basis.
- 9.7% said the best option was a dynamic pricing program, like ComEd’s Residential Real Time Pricing (RRTP) or Ameren’s Power Smart Pricing. These programs charge rates that change on an hourly basis, so participants will benefit if they can put off heavy power usage until times when prices are low.
As you can see by all the choices, Illinois consumers have to do their homework to pick the best option. CUB is excited to see consumers taking advantage of some of the creative dynamic pricing plans that are becoming more widespread thanks to the introduction of smart meters across the state.
Our survey winners are two examples. John and Michael are customers of Ameren’s Power Smart Pricing program and ComEd’s Residential Real Time Pricing program, respectively. Michael estimates that even after the polar vortex winter, when power prices went through the roof, he saved on RRTP, compared with standard ComEd rates.
We hope the $25 CUB prize goes far for these savvy consumers. Every penny counts, and that’s why CUB works so hard for Illinois consumers.
“It is helpful to know there are organizations trying to keep the utilities honest and not just be able to do what they want when they want,” Michael said.
To fight with CUB (and potentially win some great prizes!), join the CUB Action Network today.