Compare Joliet Electricity Rates

Joliet Electricity Rates

Contents

1 Joliet Electricity Rates
2 Joliet Utilities
3 Contact ComEd for Power Outages
4 Understanding the Electric Bill
5 Choosing an Electric Supplier
6 Read the Terms and Conditions!
7 What is the Price to Compare?
8 Fixed vs. Variable Rates
9 What Happens at the End of my Term?
10 View by City
11 Clean Energy
12 Electricity Rates

Residents living in Joliet, IL have the power to choose a lower supply rate and save money on their electric bills. Joliet electricity rates fall under the Commonwealth Edison utility service area. Legislation passed in Illinois, known as the Electric Service Customer Choice and Rate Relief Law of 1997, unbundled the responsibilities of the Illinois utilities. This paved the way for outside energy suppliers to provide generation services at competitive prices to Illinoisans. Deregulating the electricity market has helped push down energy prices in the state. When electric suppliers compete, the consumers win.

The city of Joliet is located 45 miles southwest of Chicago and has a population of nearly 150,000. The weather consists of hot wet summers with average annual rainfall just above 35 inches. Joliet is no stranger to snowstorms and heavy snowfall during the winter.

Joliet Utilities

If you’re planning on moving to Joliet, then you will need to set up an electric account with Commonwealth Edison (ComEd). ComEd is the utility company in the city that is responsible for maintaining the lines and wires to safely deliver power to its customers. The delivery charge represents the regulated section of the electric bill and is overseen by the Illinois Commerce Commission. You will not be able to change utility companies for the delivery services on the electric bill. Given the logistics involved, it will be impossible to have another utility company to deliver power.

Contact ComEd for Power Outages

If you recently changed electric suppliers and experience a power outage, then you will still need to contact ComEd. The utility company is responsible for fixing all outages that occur in its service area.

ComEd contact information: 1-800-334-7661

Understanding the Electric Bill

If you’re new to electricity deregulation, then having to choose a new energy provider might be confusing at first. To have a better understanding of energy deregulation, it’s good to have a better understanding of the sections that make up the electric bill. The electric bill consists of the delivery charge and the supply charge.

Delivery Charge – As mentioned earlier, the delivery charge represents the regulated section of the electric bill. This is the cost of delivering power from the point of generation to the customers. The utility company is responsible for delivering the power and this charge is regulated by the Illinois Commerce Commission.
Supply Charge – The supply charge represents the deregulated section of the electric bill. This is the cost of generating the power the customer is estimated to use during the term of an energy agreement. Energy deregulation allows the customer to shop around for a lower supply rate for their generation services.

Choosing an Electric Supplier

With so many energy plans to choose from, shopping for an electric supplier might seem like a daunting task. Knowing which rate product to select depends on individual preferences. The plan that is right for you may not be the same one that is right for your neighbor. Energy choice has given Joliet residents more options when it comes to saving money on the electric bill than ever before. Below are a few things to consider while choosing the provider that is right for you.

Read the Terms and Conditions!

When comparing energy plans it’s important to read the details of each plan. The terms and conditions will lay out the details including the energy rate, term length, early cancellation fees, and any other charges that are included. Understanding the terms of the plan can help save you from any surprises that show up on the electric bill.

What is the Price to Compare?

ComEd is required to offer generation services to residents who decide not to shop around for a competing supplier. The supply rate charged by the utility company is known as the default rate or the price to compare rate. This is the rate that a customer should use while shopping for a new energy plan. If the energy company is offering a supply rate that is lower than the price to compare, then the customer will be saving money by switching providers.

Fixed vs. Variable Rates

Two of the most popular plans are the fixed and variable rate products. Deciding which plan is right for you may have a lot to do with current energy prices. If the market is low, then it makes sense to lock in a long-term fixed rate. This will protect you against any increases in the energy market. However, if the market continues to drop, then you may be stuck paying a higher rate.

Variable rates change monthly. If you believe energy prices will drop then you may consider going with a month-to-month variable plan. However, if the market spikes, you will be stuck paying a high rate. Most variable-rate plans do not include an early cancellation fee allowing the customer to change energy providers anytime without being charged a penalty.

What Happens at the End of my Term?

If your energy plan expires and you take no action, then most energy providers will put their customers on a month-to-month variable rate. If this happens, don’t be surprised to have the electric bill double or even triple in a single billing period. If you cancel the agreement without selecting a new provider, then you will automatically be transferred back to the utility company. We recommend shopping around for a new plan a month before the old plan expires.