May
24

Chicago Utility Company Granted Rate Increase

May 24, 2011

Get ready to pay more for electricity, Chicago residents.

The Illinois Commerce Commission on Tuesday unanimously approved a $155.7 million rate hike requested by Commonwealth Edison.

It could have been much worse. ComEd had originally requested an increase of $396 million last June, and an ICC judge had approved a $166 million rate increase last month. In addition, the ICC rejected a request from ComEd for an additional surcharge to pay for improvements.

Residents show their displeasure to ComEd's rate hike.

The increase will cost an average single-family household an extra $3.15 a month or about $37.80 a year. The new rates will take effect on June 1.

The Citizens Utility Board, Illinois’ leading nonprofit utility watchdog organization, plans to appeal the rate hike.

“The increase affects the rates the company charges to cover delivering electricity to homes — plus a profit. These delivery costs take up about a third of a customer’s electric bill. The rest covers the cost of the electricity itself, which the company is supposed to pass on to customers, with no mark up,” said CUB Executive Director David Kolata in a statement.

“Although ComEd’s requested rate hike was cut in half, the company actually owed its customers a $40 million rate cut, according to evidence uncovered by CUB and the Illinois Attorney General’s office. As Illinois consumers get gouged at the pump and prepare for yet another expensive summer air-conditioning season, this is the worst possible time for a rate hike. We look forward to fighting it on appeal.”

For more information on CUB’s positioning, visit CitizensUtilityBoard.org or call (800) 669-5556.

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Tracey

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3 Comments

1

[...] many utilities pushing for rate increases lately, it’s nice to see one that is trying to save Chicago homeowners some [...]

2

[...] fact, the report says that taking energy-efficient steps could overcome even the $155.7 million rate hike ComEd was granted last [...]

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