Dive Brief:
- The Citizens Utility Board, a nonprofit utility watchdog organization in Chicago, has released a list of the highest-priced electricity suppliers in Northeastern Illinois, with some charging prices almost double that of the regulated utilities.
- In both ComEd and Ameren's territories, Ambit Energy charged the most for power (a variable rate of 14.65 cents and 11.13 cents per KWh, respectively).
- ComEd customers are currently paying 7.572 cents per KWh and Ameren customers are paying 4.571 cents per kWh in Zone 1, 4.467 cents in Zone 2, and 4.547 cents in Zone 3 of the utility's service area.
Dive Insight:
The Citizens Utility Board reviewed more than 100 rates from alternative electric suppliers, attempting to inform consumers of bad deals in the marketplace.
"The Illinois electric market can be a gamble when it comes to finding savings," the group said in its analysis. "The only sure-fire way to lower your bills is through energy efficiency."
In ComEd's territory, four companies (Ambit Energy, Starion Energy, Viridian and Ethical Electric) offered the five highest rates. In Ameren's territory, the five highest rates were offered by Ambit, Viridian and Clearview Energy.
CUB warned consumers of low introductory rates that disappear, extra fees, high exit fees and aggressive sales tactics. Some suppliers may charge exit fees of up to $200 if a customer leaves a plan before the contract is up, CUB said, but noted "under the law, customers are allowed to leave a contract without paying an exit fee within 10 days after the date of the first bill."
According to CUB, in ComEd's territory AEP Energy offers the lowest alternative-supplier rate, at a fixed 7.29 cents per KWh for a 12-month term with no fees. The same company's 5.2 cents per KWh six-month rate is the lowest in Ameren's territory among alternative providers.
