Did you know that ComEd and Ameren are charging new prices for electricity?
It’s important to know what these prices are in order to make an apples-to-apples comparison with alternative electric supplier offers (called the “price to compare”). WARNING: These prices are likely your best bet—since 2015, Illinois consumers with alternative electricity suppliers have lost nearly $800 million.As of October 1:
New prices, Oct. 1, 2019-May 31, 2020:
- ComEd’s new electricity price is: 7.224¢/kilowatt-hour (kWh)
- Ameren’s new electricity price is: 4.715¢/kilowatt-hour (kWh) for the first 800 kWh;
4.476¢/kilowatt-hour (kWh) for usage beyond 800 kWh
Note: These utilities serve customers living in set geographic territories: ComEd covers the northern third of Illinois, roughly; and Ameren the southern two-thirds of the state. Their prices differ because the supply rates are set by different energy markets with different rules. People living in ComEd territory cannot switch to Ameren, and people living in Ameren territory cannot switch to ComEd.
These prices cover the electricity itself (the supply) that you use. Supply charges take up about a half to two-thirds of your bill. ComEd and Ameren are not allowed to profit from supply charges; they simply pass along the market prices with no markup. (This restriction does not apply to alternative suppliers.)
Delivery charges—fees the utilities charge you to deliver the electricity to your home—and taxes take up the rest of your bill. ComEd and Ameren are allowed to profit off of delivery charges. Those rates are set by a formula in a process overseen by the Illinois Commerce Commission.
- ComEd’s price includes a supply rate (5.998 cents per kWh) PLUS a transmission services charge (1.226 cents per kWh).
- Ameren’s price includes a supply rate (3.485 cents per kWh for the first 800 kWh; 3.246 cents per kWh for usage beyond that); a transmission charge (1.172 cents per kWh) and a Supply Cost Adjustment (0.058 cents per kWh).
- These rates DO NOT include the Purchased Electricity Adjustment (PEA), a per-kWh credit or debit that changes monthly.