Dive Summary:
- Chicago-based ComEd hopes to get back many of the 800,000 customers who have switched to alternative electricity companies.
- Many customers switched because rival companies such as Integrys Energy were charging six cents per kilowatt-hour compared to ComEd nine cents per kilowatt-hour, resulting in an average savings of $10 per month. Integrys even offered to match ComEd's prices if they dropped below theirs.
- ComEd is hoping to convince customers to come back as its reduced the difference in prices to just half a cent per kilowatt-hour. ComEd was able to cut prices due to the expiration of old electricity agreements.
From the article:
The difference now is only about a half-cent per kilowatt-hour. But, if you have been using Integrys since the start of their agreement, you have saved a lot.
“We estimate that, in Chicago, the average consumer is saving about $150 over the life of the contract.”