Compare Electricity Rates in Chicago

The Illinois energy choice laws are allowing consumers to compare electricity rates in Chicago, and the results have been lower ComEd electric bills with zero downside.

Choosing to buy electricity from an alternative electricity company at lower generation electric rates than the ComEd default rates simply allows the citizens of Illinois to pay less on their monthly electric bill. When you compare electricity rates in Chicago it is important to make sure that you are comparing apples to apples. For residential customers, the Illinois Commerce Commission demands that all electricity companies offer rates on the same playing field and that they include both generation and transmission. However, consumers do need to make sure that the rate they choose is fixed and not variable.


Many electricity companies offer variable rates that do not contain limits to how high the price can go. The electricity company will market their variable rate with an initial rate. This rate will only be guaranteed for the first month, after which the rate can go up immediately. On contrast, fixed electric rates will not change during the term of the contract. If the fixed rate is set at a lower price, when compared to the default rate, you are guaranteed to pay less for your electricity.

Many consumers may not want to switch electricity companies because they fear the contract. The truth is that the contract is a good thing as it protects the consumer, indicating what the electric rate will be and for how long (the term). Electing to receive power from a company without a contract will put the consumer at extreme price volatility risk. Furthermore, the Illinois Commerce Commission oversees the contract language allowed by the electricity companies. In conclusion, taking the time to compare electricity rates in Chicago will result in huge electric bill savings.

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Electricity Companies in Chicago

Chicago consumers are no longer confined to purchasing their power from the local utility company. As a result of the Illinois Electricity Choice Act, power users can now shop for lower prices among several electricity companies in Chicago.

Energy choice in Chicago is providing Chicago residences with huge savings versus their traditional utility’s price to compare. Commonwealth Edison has provided electricity service to the city of Chicago and surrounding areas since 1907. The new energy choice laws has changed the role of ComEd from a full service electricity company who supplies and delivers power to their 3.6 million customers, to just being in charge of power delivery.

ComEd is encouraging consumers to find low rates from Chicago electricity companies, citing that they do not profit off of price to compare default rates. Money from the price to compare rates are passed through to electricity companies who have bid for the right to service default customers. ComEd earns revenues and profits from the delivery charges on the bill which remain regulated by the Illinois Commerce Commission Energy Division.

Lower electricity rates are currently available against the official ComEd price to compare rate which includes the generation and transmission rates. The lower electric rates will result in big savings on the electric bill, which continues to be sent by ComEd even after a competitive electricity company is chosen.


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ComEd Chicago Prices

Electricity prices for Chicago customers serviced by ComEd are becoming more competitive as alternative suppliers position themselves for market share in the country’s third most populated city.

Now that Illinois has a full functioning energy choice market, electricity customers living in Chicago are becoming more aware of their options and terms such as their “Price to Compare”. The Price to Compare represents the rate that customers who do no shop for lower competitive energy prices pay for electric supply and transmission.

Starting in October 2011 and going through May 2012, the Price to Compare for ComEd electricity customers will be 7.733 cents per KWh (6.968 Electric Supply + 0.765 Transmission). If you switch electric suppliers, the electric rate that you choose will replace the price to compare rate of 7.733 on the ComEd electric bill. ComEd continues to send the monthly electric bill to their customers as well as control the meter readings and charge for distribution service. The distribution rates remain regulated by the Illinois Commerce Commission.

In order for a competitive electric supplier to offer service they must first be licensed by the Illinois Commerce Commission. Here are some active competitive electric suppliers offering service to ComEd customers with rates below the Price to Compare:


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Low Electric Rates in Chicago

Chicago electricity customers who are serviced by the electric utility company ComEd are finding low electric rates through the Illinois electric choice laws. For the first time Chicago residential consumers have the power to shop and compare electricity rates and companies. The results have been positive as consumers are finding savings on their electric bills between 10-20% versus the default ComEd electricity rates.

Customers who have not shopped for competitive power pay a default rate for their electricity supply on the ComEd bill. However, this default rate is passed through ComEd to other electricity companies who have won previously held auctions for the right to provide electricity generation service to default paying customers in Chicago and the rest of the ComEd territory. For this reason ComEd actually encourages their customers to shop and find lower electric rates. ComEd’s profits are derived from the delivery (distribution) charges found on the ComEd electric bill. The delivery charges remain regulated by the state of Illinois; no matter who you choose to supply your electricity generation, the delivery charges will remain the same.

Illinois electric choice is about giving the customer lower electric prices and more options including green energy, fixed pricing, and long term price protection contracts. It also requires electricity companies to give the best possible customer service as they compete for market share.

Chicago electricity customers who shop and choose alternative energy companies will continue to receive their monthly bill from ComEd. They will also still continue to call ComEd for power failures and emergencies. Electric choice in Illinois is no the end of ComEd, it has only changed the role they play in the Illinois electricity market. Whereas before they controlled all aspects of the electricity business, now they are only in the business of delivering electricity to their 3.6 million customers. If you are a ComEd customer today you will continue to be a ComEd customer even after you choose who supplier your electric generation service.

Here are some current competitive electric rate prices in the ComEd territory (updated daily):


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