ComEd Customer Bills Will Decrease Beginning in June

CHICAGO, May 27, 2011 /PRNewswire/ -- A ComEd rate increase authorized this week by the Illinois Commerce Commission (ICC) will be more than offset by decreases in the wholesale price of electricity. Customers should expect to see lower total bills starting in June, the utility said today. The total average residential monthly bill is expected to drop $1.30.

The rate increase authorized on May 25 applies only to the cost that ComEd charges to deliver electricity to homes and businesses. The electricity itself, which represents about two-thirds of a customer bill, is passed through to customers without markup.

The new power prices affect ComEd residential customers as well as small business customers that take electricity supply from ComEd. About 95 percent of energy sales to large commercial and industrial customers are now served by a supplier other than ComEd.

"It is at times like these, when energy prices are low, that we should invest to modernize the system and deploy forward-looking and innovative technology that will improve reliability and customer service," Anne Pramaggiore, president and chief operating officer, said. "We can take advantage of these low energy prices to lessen the impact on consumers of investing in a modern grid and smart meter systems that give customers information to help them manage their electricity usage for years to come."

ComEd currently is seeking legislative approval of the proposed Energy Infrastructure Modernization Act, which would authorize a $2.6 billion investment in modernizing Illinois' electric grid while maintaining strict regulatory oversight and consumer protections.  

In the meantime, customers can conserve energy and save money by utilizing simple energy efficiency strategies and taking advantage of ComEd's industry-leading suite of energy efficiency programs, Smart Ideas®. A customer with a monthly bill of $100 could offset 20 percent of their bill by participating in just three programs:  

• Appliance Recycling:  Customers receive $25 from Smart Ideas and up to $150 in first year savings when an older, working refrigerator or freezer is replaced.
• Central Air Conditioning Cycling:  Customers can receive up to $40 in summer electricity bill credits through a program that gives ComEd the permission to cycle AC on and off to reduce load on peak days.  
• Residential Lighting Program: ComEd offers discounts on CFL bulbs, which use about 75 percent less electricity and last up to 10 times longer.  Replacing a standard bulb with a CFL equivalent can save a customer up to $43 over the life of the bulb. Multiplied over many bulbs, customers will see meaningful costs savings.  

Recognizing that some customers are still struggling to pay their electric bills, ComEd is making $1 million in assistance available for customers in need of help this year. The assistance is part of an array of resources available to customers who need it.  ComEd has extended the Helping Hand program through June 10.

"While market conditions determine the cost of electricity, we can control how much electricity we use," Pramaggiore said. "ComEd encourages customers to take steps to reduce their electricity usage, which will further lower their bills and help the environment."

Commonwealth Edison Company (ComEd) is a unit of Chicago-based Exelon Corporation (NYSE: EXC), one of the nation's largest electric utilities with approximately 5.4 million customers. ComEd provides service to approximately 3.8 million customers across northern Illinois, or 70 percent of the state's population.

SOURCE ComEd