CUB reminded Ameren Illinois and Commonwealth Edison customers of the utilities’ new summer power prices, and warned customers about getting lured into bad alternative supplier deals. Even in this high-priced environment, the utilities’ supply prices are likely the best bet, the watchdog said.
These are the utilities’ new summer supply rates, June through September:
- Ameren Illinois’ summer power price: 11.326¢ per kilowatt-hour (kWh)
- ComEd’s summer power price: 10.399¢ per kilowatt-hour (kWh)
Note: Your utility is determined by where you live, so you cannot switch from one utility to another. Unlike alternative suppliers, electric utilities, under Illinois law, are not allowed to profit off supply prices—they pass those costs onto customers with no markup.
“We urge Illinois consumers to carefully review any alternative electricity supplier offer pitched to them,” CUB Communications Director Jim Chilsen said. “Customers have lost far too much money to alternative suppliers over the last decade. Even in this market, ComEd or Ameren is probably your best bet for electricity supply.”
Although the utility supply prices are elevated–a big reason is soaring energy demand from power-hungry data centers–CUB stressed:
- Even with these high prices, it’s likely the utility is your best bet for supply.
- Alternative suppliers are affected by the same market conditions that keep ComEd and Ameren prices high.
- Since 2015, Illinois consumers have lost more than $2 billion to alternative electricity suppliers.
CUB advised that consumers pitched an alternative supplier offer should be wary of:
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- A low introductory rate that will skyrocket after a short period. (Ask how long a rate lasts, and what the new rate will be.)
- Add-on monthly fees that raise the cost of the plan. (Scan the fine print.)
- Force majeure. Companies charging a fixed rate, which would presumably protect a customer from a spike in prices, could claim “force majeure.” That’s a legal term to describe a company claiming it can no longer honor a contract because of unforeseeable circumstances beyond its control. Read the fine print.
- Remember, going with an alternative supplier will NOT protect you from utility delivery rate hikes. Those hikes impact delivery rates, what we pay the utilities to deliver gas and electricity to our homes. Everyone pays those rates, even if they’re with an alternative supplier.
- Be wary about showing your bill to just anybody. If somebody comes to your door and says they want to look at your electricity or gas bills, don’t hand it over OR give out your account number, unless you are absolutely sure you want to sign up. A sales rep who sees your bill can get your account number and sign you up for a deal without your permission–a scam called “slamming.” Any decision you make about your utility bills is important, and you don’t have to make it on your doorstep. Don’t give out any sensitive info, even if the person at the door claims to be from the utility company. Instead, ask where you can get more information about the offer and end the conversation.
- If you want to sign up, watch your bill carefully. Be prepared to get out of the offer if you notice it stops saving you money– you should be able to get out with no penalty.
- With electricity supply, check if your community has negotiated a “municipal aggregation” deal. Municipal aggregation is when community leaders negotiate with an alternative supplier to secure a reasonable electricity price. Don’t assume a community power deal will save you money–savings aren’t guaranteed. Make an apples-to-apples price comparison between the aggregation offer’s price and your utility’s supply rate, and find out when the aggregation offer expires.
- Read our fact sheets on energy choice for ComEd and Ameren customers.
There are other ways to try to control your energy costs than switching to an alternative supplier. CUB’s online resource, CUBHelpCenter.com, has tips on how to get through an expensive summer.
- Practice energy efficiency. Simple things like weatherizing windows and doors–to keep cool air in and warm air out–can help soften the blow of this price spike. Don’t take unnecessary risks that keep your home too hot and threaten your health. Efficiency is about eliminating waste but staying safe and cool. Read CUB tips.
- Stay in contact with your utility. Consumers who are struggling should contact their utility to inquire about energy assistance, payment plans to pay off debt, and energy efficiency programs. CUB calls on ComEd and Ameren to offer good payment plans to help more utility customers pay off their debt and stay connected.
- See if you qualify for energy assistance. To learn more about the Low Income Home Energy Assistance Program (LIHEAP), visit www.helpillinoisfamilies.com or call the Help Illinois Families Assistance Line at 1-833-711-0374.
- Consider solar power.
- A community solar deal allows you to enjoy the benefits of solar power without having to install panels at your home. Community solar offers currently guarantee savings compared to the utility’s supply price. But be a careful shopper: Get more information at our special website, SolarInTheCommunity.com.
- If you’re interested in installing solar panels, learn more about rooftop solar. (ComEd customers, check out the Switch Together program.)
- Also, CUB has information about income-qualified solar programs.
- Be a good neighbor. Make sure friends, family and neighbors are safe and cool this summer.
