Illinois ComEd Residential and Business Prices to Compare to Rise 40%
Commonwealth Edison Prices to Compare 2022
According to recent report from Energy Choice Matters, Commonwealth Edison electricity prices to compare for residential and small commercial customers will increase 41% on June 1.
New Purchased Electricity Charges (PECs) and PJM Services Charges (PSCs) have been filed by ComEd for June 1, 2022. Typically the new PECs are announced in the month of April, but a supplemental block energy procurement was conducted for summer 2022, and ComEd has filed new PECs reflecting that procurement after the results were approved by the ICC last week.
ComEd's residential price to compare will be 11.041 cents per kWh for the period June through September 2022, 41% higher than the current residential PTC of 7.809 cents per kWh.
ComEd's Watt-hour Non-Electric Space Heating price to compare will be 11.094 cents per kWh for the period June through September 2022. That's 41% higher than the current PTC of 7.844 cents per kWh.
ComEd Purchased Electricity Charges (PECs) are below. Note that the listed non-summer PECs are indicative, and rates may be updated depending on any fall 2022 procurement event conducted by the Illinois Power Agency.
From the EnergyChoiceMatters website:
ComEd Rate Increase in Summer 2022
To summarize this year's ComEd rate increase, effective June 2022, both residential and small to medium-sized businesses in Illinois will see a large energy rate hike on their ComEd electricity bills. Whether you are located in the city of Chicago, or located in a suburb of Illinois that pays an electricity bill to Commonwealth Edison, this June 2022 you will see a big rate hike that ranges from $.08-$.11, so we are talking about a 40% rate hike and just your energy supply charge rate.
In fact, below are images of electricity bills from a carwash located in Elgin, IL. from the month of May and the month of June. When you calculate the rates for each month you will notice a large increase. Unfortunately this increase is here to stay through May 2023.
May 2022 Electricity Bill
June 2022 Electricity Bill
These new ComEd rates are normally set for both residential and small to medium size businesses for a 12 month window, and then reset during an auction that takes place between the Illinois utility commission (ICC) and
Illinois Power Agency.
Auctions, and or discussions of auctions for next year are already taking place. However, with how volatile the energy market has been recently, there are several challenges in planning for these actions.
If your business is in Illinois, you may be affected by these changes. If you are in need of energy procurement service please contact us.
Has your ComEd bill increased? Contact us now.
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