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Know your power price and beware of bad electric deals

As of this past fall, ComEd and Ameren Illinois are charging new electricity supply rates through May of 2024.

Ameren Illinois: 8.107 cents per kilowatt-hour (kWh) for up to 800 kWh of usage. Every kWh beyond that is 7.094 cents per kWh. This is about a 30 percent DECREASE from the prices last winter.

ComEd: 6.872 cents per kilowatt-hour (kWh) for all kWhs. This also is about a 30 percent DECREASE from the prices last winter.

As a reminder, ComEd and Ameren bill customers to deliver electricity to their homes. But those customers have the right to choose their utility’s suppliers or an alternative company to supply the actual electricity. Be wary, Illinois consumers have lost about $1.6 billion total to alternative electricity suppliers since 2015. It’s likely the utility price is your best bet, so be careful when navigating Illinois’ electricity markets.

Electric choice comes in two forms:

Alternative suppliers that pitch offers to individuals: You can choose a company that markets you over the phone, via mail or door-to-door.

Municipal Aggregation offers: Many communities opt to negotiate with a supplier in hopes of securing a reasonable electricity rate for residents. But savings aren’t guaranteed. Some consumers tell CUB they opt for their community’s offer because it’s a reasonably priced green plan. That’s a fair choice—just be careful. CUB has seen community deals that were much higher than the utility price, 10 cents per kWh or higher. Read more about community power deals here. 

Remember, state law requires your utility to have a growing portion of its supply portfolio from clean energy, so you don’t have to go with an alternative supplier’s green offer to be green. Also, there are other ways to be green, such as making your home more energy efficient, that doesn’t involve paying too much with an alternative supplier.

Compare alternative supplier offers with the utility’s price (read our fact sheets for Ameren and ComEd customers), and don’t be shy about getting out if the deal is no longer beneficial. Visit CUB’s Electric page, at CitizensUtilityBoard.org to see utility prices and read our recent WatchBlog article with tips.