ComEd: Residential electricity rates on rise - Fox 2 News Headlines

ComEd: Residential electricity rates on rise

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CHICAGO (FOX 32 News) -

Commonwealth Edison says electricity rates for its residential customers are rising 38 percent on June 1.

Imagine seeing zero on your ComEd bill? It’s Adam Walter’s reality.

“$1,500-$2,000 a year I’ll be saving in total electric cost,” said Walter.

Talk about pro-active.

Walter anticipated ComEd’s impending rate hike and switched to solar panels in November.

ComEd says supply prices will go up to 7.5 cents per kilowatt hour. The average household uses 655 kilowatt hours per month. ComEd also says the increase will cost households at least $13 per month.

“It’s bad news for consumers that there is going to be a 38% increase on their per kilowatt electricity price as they head into air conditioning season,” said Jim Chilsen, Spokesperson at Citizens Utility Board.

What's the best option to lower your power bill?

“Just by bumping your thermostat up a few degrees in the summer, you can cut your electricity bill by 10-14%... Using compact florescent light bulbs… Things like weatherizing your home… What this rate hike teaches us is that we can’t rely on the energy markets to cut our power bills,” said Chilsen.

Or you could just go solar?

“We pay our energy bills with after tax income so when you cut out the middle man and make it yourself it’s a great investment,” said Brandon Leavitt, President of Solar Service Inc.

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