New Electricity Pricing Option to Save Illinoisans Money, Cut Pollution
CHICAGO, November 20–Commonwealth Edison (ComEd) today filed with the Illinois Commerce Commission (ICC) a residential Time of Use pricing pilot. This new option will give customers greater control over their electricity bills and reduce pollution by encouraging people to shift electricity use away from times when the dirtiest power plants are online. Developed with input from Environmental Defense Fund (EDF) and the Citizens Utility Board (CUB), the voluntary pilot will introduce three distinct pricing periods with higher prices during peak times and lower prices during off-peak times. Set to roll out in January 2020, the Time of Use pilot will expand ComEd’s dynamic electricity pricing offerings, which currently include a real-time pricing program. Dynamic pricing is a proven way to deliver bill savings. Research by EDF and CUB found Illinois’ first dynamic-pricing program could have saved money for a majority of ComEd customers in 2016, reinforcing a vast body of research that shows Time of Use pricing can also cut electricity bills.
“Time of Use pricing will give millions of Illinoisans the ability to take better control of their energy use and lower their carbon footprint. This pilot program is yet another sign the state is moving to a cleaner, more customer-centric energy system.”
- Christie Hicks, Senior Attorney, Clean Energy, EDF
“In Illinois’ electricity market, more and more consumers are telling us they want clean energy choices that are both good for their pocketbooks and the planet—so it’s a big step in the right direction for ComEd to propose time-of-use pricing. A lot of work remains to develop this plan and educate consumers about it, but if we’re serious about building a more affordable, more reliable and cleaner power grid, time-of-use pricing has to be part of the blueprint.”
- David Kolata, Executive Director, CUB
Environmental Defense Fund (edf.org), a leading international nonprofit organization, creates transformational solutions to the most serious environmental problems. EDF links science, economics, law, and innovative private-sector partnerships. Connect with us on Twitter, Facebook, and our Energy Exchange blog.
The Citizens Utility Board is Illinois’ leading nonprofit utility watchdog. Created by the Illinois Legislature, CUB opened its doors in 1984 to represent the interests of residential and small-business utility customers. Since then, it has saved consumers more than $20 billion by helping to block rate hikes and secure refunds. For more information, call CUB’s Consumer Hotline, 1-800-669-5556, or visit its award-winning website, www.CitizensUtilityBoard.org.