Chicago Market Alert:
ComEd Delivery Rates to Rise by 11%
From the Chicago Tribune, December 10, 2014
Commonwealth Edison (ComEd) was given the go-ahead Wednesday to raise electricity distribution rates by 11 percent to help pay for a $2.6 billion grid modernization effort.
The change in electric delivery costs will be reflected in Januaryutility bills, totaling nearly a $245 million increase. This year ComEd already increased the average customer bill by $5.50 to assist in grid modernization efforts. This latest 11% increase will add $2 to $3 on top of the previous rate hike. All Clients with ComEd properties should account for these increases in 2015 budgets.
Here is a link to the article: http://www.chicagotribune.com/business/ct-comed-rate-hike-1211-biz-20141210-story.html
Illinois Multifamily Property Owners have Options to Keep Rates in Check
In Illinois, electricity is a de-regulated energy commodity, meaning you have options when selecting a utility supplier. While ComEd may be the commodity delivery distribution company, there are many electricity commodity suppliers.