Arlington Heights Electricity Rates
Contents
- 1 Arlington Heights Electricity Rates
- 2 ComEd Utility Operates in Arlington Heights
- 3 Contact ComEd for Power Outages
- 4 Understanding the Electric Bill
- 5 Choosing an Electric Supplier
- 6 Read the Terms and Conditions
- 7 Is There an Early Cancellation Fee?
- 8 Short Term vs. Long Term Energy Plans
- 9 What is the Price to Compare?
- 10 What Happens at the End of my Plan?
- 11 View by City
- 12 Clean Energy
- 13 Electricity Rates
If you live in Arlington Heights, IL then you have the freedom to choose your electric supplier and lower the electric bill. Arlington Heights electricity rates fall under the ComEd utility service area. Thanks to the Illinois Electric Service Customer Choice and Rate Relief Law, the responsibilities of the utility companies became unbundled allowing competing electric suppliers to offer generation services. Opening the door to outside energy companies has helped push down energy prices in Illinois. When energy suppliers compete, consumers win.
The city of Arlington Heights is located 35 miles northwest of Chicago and has a population of just over 75,000. The top three employers include Arlington International Racecourse, Northwest Community Healthcare, and Arlington Heights High School District. The weather consists of mild to warm summers and cold winters.
ComEd Utility Operates in Arlington Heights
If you’re moving to Arlington Heights, then you will be setting up an electricity account with ComEd utility. ComEd is the utility company that is responsible for maintaining the power lines to safely deliver the electricity to its customers. This is known as the delivery charge and represents the regulated section of the electric bill. Given the logistics involved, a customer will not be able to change to another utility company. The delivery charge is regulated by the Illinois Commerce Commission.
Contact ComEd for Power Outages
If you recently changed electric suppliers and experience a power outage, then you will still need to contact ComEd. ComEd controls the power lines and is responsible for fixing any power issues. Thanks to advancements in technology, power outages can be detected and resolved right away. However, if you experience a prolonged outage, then contact ComEd.
- ComEd IL contact information: 1-800-334-7661
Understanding the Electric Bill
If you’re new to energy choice, then shopping around for a new electric supplier might seem like a hassle. However, locking in a lower supply rate can save you 25 percent or more on the electric bill. Knowing the different sections of the electric bill will make it easier to understand what you’re shopping for. The electric bill is separated into two sections that include the delivery charge and supply charge.
- Delivery Charge – The delivery charge is the regulated section of the electric bill and is charged to the customer by ComEd. The delivery charge is the costs of delivering the power from generation companies to the place of service, whether it’s your home or business.
- Supply Charge – The supply charge is the deregulated section of the electric bill. This is the cost of generating the electricity the customer is estimated to use during the term of the agreement. Deregulated electricity markets allow the customer to shop around for a lower supply rate.
Choosing an Electric Supplier
If you’re living in Illinois, then it makes sense to take advantage of energy choice. Locking in a low supply rate will help save money on the electric bill so you can spend money on things that matter most. Not every energy plan is the same. Depending on your preference, one energy plan might be better suited for your needs than another. Knowing what you want is a good starting point. Below are a few things to consider while shopping for an electric supplier.
Read the Terms and Conditions
This may sound obvious, but many do not bother paying attention to the terms and conditions. This can lead to some surprises on the electric bill. The terms and conditions will lay out the details of the agreement including the energy rate, term length, early cancellation fees, and any other additional charges. Reading the terms and conditions will help you compare apples-to-apples when choosing an electric supplier.
Is There an Early Cancellation Fee?
Most energy plans will have an early cancellation fee. If you change energy companies before the expiration of the initial agreement, then you can expect to be hit with an early cancellation penalty. Early cancellation fees can come in the form of a flat fee or an amount multiplied by how many months are left in the agreement. These fees can cost the customer up to $300 so be sure you don’t switch energy suppliers too early!
Short Term vs. Long Term Energy Plans
The most obvious factors to consider are current energy prices. The electricity market can be volatile so if you’re shopping for energy plans during a bear market you should take advantage and lock in a long-term rate. This will put a ceiling on the price during a rising market. However, if the market continues to drop you may be stuck paying a higher rate.
If you think electricity prices will drop in the future, then you may consider going with a short-term plan. Short-term energy plans come with increase risk. If you decide against locking in a long-term rate, then you’ll be at the mercy of the energy market. The greatest benefit of short-term energy plans is the flexibility to change providers without being hit with a high cancellation fee.
What is the Price to Compare?
The state of Illinois requires utility companies to offer a default supply rate for customers who wish not to shop around. ComEd will provide the price to compare for residents in Arlington Heights. The price to compare is used while comparing energy plans. If a competitive electric supplier is offering a supply rate lower than the price to compare, then the customer will be saving money switching suppliers.
What Happens at the End of my Plan?
Most electric suppliers will switch its customers to a month-to-month variable rate after the original plan expires. Once this happens don’t be surprised to have the electric bill double or even triple in a single billing period. Month-to-month variable rates allow the energy suppliers to change the rate at their sole discretion. It’s a good idea for the customer to shop around for a new energy plan a month before the original term expires.