ComEd Gets the Green Light to Higher Rates

April 16, 2011

Chicago residents are already dealing with rising gas prices, higher food costs and increasing property taxes. Now, the cost of electricity might be going up.

An Illinois Commerce Commission judge is recommending that Commonwealth Edison receive a $166 million increase in rates to customer’s homes in Chicago and surrounding suburbs.

turning off a light switch

One way to save money on your electric bills is to turn off the lights when you aren't using them.

That equates to about a three percent raise to you and me.

Before you become outraged, you should know that the amount is less than half of the $326 million increase ComEd requested last June. It’s also more than the $103 million originally recommended by the ICC.

You have options. In 1996, Illinois gave residents and businesses the opportunity to purchase its electricity through lower-cost suppliers. Just don’t make it Ameren Illinois. Apparently, that Downstate company is pushing for a rate hike on its electric and gas rates by $111 million.

In fact, ComEd and Ameren are pushing to pass a bill that would allow them to raise their rates each year without prior approval from the ICC, as is required now.

The Citizens Utility Board and Illinois Attorney General Lisa Madigan are strongly opposed to the legislation and have testified against it.

The ICC is expected to make a decision on ComEd’s proposed rate increase by May 24.

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