ComEd price hike could hit June 1
Your ComEd electricity bills could increase on June 1.
The Citizens Utility Board is sending customers another warning about the possible impact of a price hike.
On June 1, the supply rate is expected to increase significantly and stay high for the next year, the watchdog group said.
ComEd has estimated the increase could cost customers an extra $10.50 a month.
ComEd attributes the spike to extreme weather, spikes from high-energy users like data centers, and high demand.
In December 2024, regulators approved a rate hike for ComEd's clean energy plan of over $600 million.
ComEd released a statement on the increased cost, writing, "Beginning this summer, the average monthly residential customer bill in the ComEd service territory is expected to rise by about $10.60 due to the annual PJM Interconnection capacity auction held last year. These costs go into effect in June and will be reflected in the 'supply' portion of customer bills, which ComEd passes on directly to customers with no markup. ComEd does not profit from this increase, was not part of the auction, does not supply capacity, and does not retain any proceeds of the capacity charge payments. ComEd is responsible for the 'delivery' portion of bills, which pays for the work ComEd does to maintain and upgrade the system to ensure safe and reliable electric service for all customers."
They added customers can reach out to the utility to discuss payment plans and other programs to help reduce and manage their electricity costs this summer.
The Citizens Utility Board said ComEd is not to blame for the spike. The watchdog group blames the regional grid operator, PJM, for what it calls "years of bad policy."
"The power grid operator has been slow to fix a clogged interconnection queue. That's the line of power plants — largely wind and solar generators — that are waiting to connect to the grid," said Citizens Utility Board Director of Communications Jim Chilsen. "So ComEd customers will pay higher summer bills because of PJM's failings, and power plant owners — the big generators that sell power to the utilities — stand to make a windfall."
CUB also said the rate hike could have been prevented.
"The infuriating fact is that this was a completely preventable situation," Chilsen said. "Unfortunately, this price hike is because of years of bad policy at the regional power grid operator for ComEd territory."
CBS News Chicago was not able to reach PJM for comment.
An Illinois state law that subsidizes some types of energy will offset some of the cost increase.
Meanwhile, CUB said consumers can help lower their bills by weathering doors and windows. Information on energy assistance programs is also available on the CUB website.
