CUB is hosting a news conference today to announce updates to the Chicago Power Deal Calculator in time for changing October electric rates.
CUB launched the calculator this summer to help Chicago residents decide if they are better off staying with the City’s municipal aggregation deal with Integrys Energy Services or switching to ComEd, the regulated utility.
Chicago contracted with Integrys in 2012 to supply electricity to more than 700,000 customers in a deal that ensures none of the power purchased will come from coal-fired power plants. In the first 16 months of the deal, the City estimates that Chicago residents saved more than $30 million.
For the remaining months of the deal, the City and Integrys negotiated a new offer:
- Rates for October 2014 through May 2015: 5.299 cents per kWh, plus a set monthly fee of $3.99 to $29.99 assigned to customers based on their housing type and past electricity usage.
According to the City, the monthly fees represent a more fair and transparent way of allocating costs that are usually wrapped into the price to compare.
ComEd also recently announced new rates. The company, which charged about 7.6 cents per kWh June through September, is now charging 7.487 cents per kWh in October, and 7.43 cents per kWh from November 2014 through May of 2015.
These new rates have left many Chicagoans wondering: Which supplier will save me the most money?
CUB has updated its Chicago Power Deal Calculator with these new rates to help you make an informed decision about your electricity supply for the remainder of the year. Give it a try to see which supplier is right for you!
