Beginning in August, more than 600,000 Chicago households will switch from the City’s municipal power deal with Constellation Energy back to ComEd, marking the end of the largest deal of its kind in the country.
With the mass exodus of customers, Chicago residents need to be on high alert. The big switch could spark an advertising blitz from alternative suppliers who are eager to gain new customers.
CUB hosted a news conference today warning Chicagoans to be careful when shopping the electric market and to use www.CUBPowerCalculator.com—CUB’s free new tool that allows customers to compare alternative supply offers to the regulated utility rates and avoid rip-offs.
If the tool calcualates that you will save more money with an alternative electric supplier, consider these factors before making a switch:
- Is the advertised price a variable rate that will change monthly, or a rate that is fixed for a certain period?
- Is the price an introductory rate that could skyrocket after a few months?
- Does the offer force me to pay an exit fee if I want to get out of the contract? (CUB just successfully fought for legislation that puts a $50 cap on such fees!)
Read more about CUB’s calculator from local media: