Evanston Electricity Rates
Contents
- 1 Evanston Electricity Rates
- 2 ComEd Utility Provides Service in Evanston
- 3 Contact ComEd for Power Outages
- 4 Energy Deregulation and the Electric Bill
- 5 How to Choose an Electric Supplier?
- 6 Read the Terms and Conditions!
- 7 What is the Price to Compare?
- 8 Fixed vs. Variable Rates
- 9 Green Energy Plans
- 10 What Happens at the End of my Term?
- 11 View by City
- 12 Clean Energy
- 13 Electricity Rates
Homes and businesses in Evanston, IL have the power to choose their electric supplier and lower the supply rate on the electric bills. Evanston’s electricity rates fall under the ComEd utility service area. The city is one of many in Illinois that is located in a deregulated electricity market. Thanks to legislation passed in 1997, the main responsibility of the Illinois utilities is to deliver the power to its customers. Energy deregulation opened up the Illinois energy market to outside energy providers to offer competing generation services. The increase in competition has pushed down energy prices in the state which is good news for Illinoisans.
The city of Evanston is located 14 miles north of Chicago and has an estimated population of 75,000. The largest employer in the city is Northwestern University. Given its geographical location next to Lake Michigan, the winters can be very cold leading to an increase in natural gas demands.
ComEd Utility Provides Service in Evanston
ComEd is a utility company in Illinois that is responsible for maintaining the lines and wires to safely deliver electricity to its customers. If you’re planning on moving to the city, ComEd is the company that you will receive the electric bill from. The delivery charge represents the regulated section of the electric bill and is regulated by the Illinois Commerce Commission. You will not be able to change to another utility company for the delivery service.
Contact ComEd for Power Outages
If you experience a power outage, then you will need to contact ComEd and not your electric supplier. The utility company will be responsible for fixing any issues dealing with the power lines. Thanks to advancements in technology, power outages can be detected and fixed within hours. However, if you experience a prolonged outage then contact the utility company.
- ComEd contact information: 1-800-334-7661
Energy Deregulation and the Electric Bill
Just because you can’t change utility companies, doesn’t mean you can’t lower the supply rate on the electric bill! Energy deregulation allows the customer to shop for a lower supply rate which leads to greater savings. The supply section of the electric bill represents the deregulated section. This deals with the amount of energy that needs to be generated to meet the end user’s usage. The supply rate is the price you pay for the energy that is generated. ComEd is required to provide a default rate for customers that don’t switch. The default rate is also known as the price to compare and can be used while shopping for energy rates.
How to Choose an Electric Supplier?
Electric suppliers specialize in different energy plans. Knowing exactly what you want is the first step in choosing the right energy supplier. Do you want the lowest supply rate possible or do you want a green energy plan derived from renewable energy sources? Deciding between these two factors can lead one to select different providers. Below are a few things to consider while shopping around for the plan that is right for you.
Read the Terms and Conditions!
This may sound obvious but reading the terms and conditions can save you from future headaches. The terms and conditions will lay out the details of the energy plan including the energy rate, early cancellation fees, term length, and any additional charges that are not part of the supply rate. This is a good step when comparing energy plans.
What is the Price to Compare?
The price to compare, also known as the default rate, is provided by the utility company to those who do not switch over to a competitive electric supplier. For residents in Evanston, the price to compare will be provided by ComEd utility. This rate is not a fixed-rate as it can change every few months. A customer should use the price to compare while shopping for energy plans. If a provider is offering a supply rate lower than the price to compare, then the customer will be saving money by switching.
Fixed vs. Variable Rates
The two most common energy plans include fixed and variable rates. Deciding which plan to go with has a lot to do with risk tolerance. If you’re conservative, you might be better off locking in a long-term fixed rate. However, making this decision also has a lot to do with current energy prices. If you lock in a long-term fixed-rate and the energy market drops, you will be stuck paying a higher rate. Most fixed rates will include an early cancellation fee if the customer changes energy providers before their term expires.
Variable rates can change on a month-to-month basis. If you’re afraid of commitment, then you might consider going with a variable rate plan. Most variable-rate plans allow the customer to change energy providers without an early cancellation fee. This gives a little more flexibility to the customer. However, this exposes the customer to more risk and it’s not uncommon to have a variable rate double or even triple in a single billing period.
Green Energy Plans
100% renewable energy plans usually come with a high premium. The truth is renewable energy sources are not very competitive compared to the conventional ways of generating electricity. However, your state may provide certain tax incentives that might make it worth it. If you’re looking at reducing your carbon footprint there are a growing number of energy suppliers offering green energy plans.
What Happens at the End of my Term?
If your energy plan expires and you don’t take action, don’t be surprised to be hit with a high electric bill. Most energy companies will switch their customers to a month-to-month variable rate plan after the original term expires. We recommend shopping around for a new plan a month before the original plan expires.
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