Welcome to another blog! Today we’ll talk about the history of Commonwealth Edison, better known as ComEd, the Energy Choice program, and how to benefit from it if you’re a ComEd customer. So without further ado, let´s begin.
A brief recap of ComEd’s history
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With more than 100 years of service, Commonwealth Edison Co is the largest utility company in Illinois and one of the largest in the US. To give you a bit of background information, Western Edison Light Company, one of the companies owned by Thomas Edison, was the predecessor of ComEd. As you might know by now, Thomas Edison is one of the most famous American inventors in the history of the US – and one can say the world -, with more than 1,000 patents. But we’re not here to talk about him, are we?
ComEd’s continuous growth is the reaction to the city’s growth, as it is the sole power company in Chicago. Did you know that Chicago was once the 2nd largest city in the US? Well, to cope with that growth, Western Edison Light Company had to develop the grid, a whole set of infrastructure that supported the needs of a city that were transforming from the “hog butcher to the world” to an innovative city full of businesses and commerce.
An energy delivery company
Source: Photo by Nikola Johnny Mirkovic on Unsplash
Unlike other utilities in the market, ComEd is an energy delivery company whose sole purpose is to deliver power to homes and businesses. Still, they do not own any sort of power plants. Their success comes from the management of “more than 90,000 miles of power lines in an 11,400-square-mile territory” that gives you, the final user, reliability on the service. This is excellent news for you as a customer. Why? Because the supply portion of your electric bill can be chosen by you from a wide range of providers, let’s get into that later.
Nowadays, it serves more than 4 million electricity customers – roughly 70% of the population of Illinois – across the northern part of the state, including all major cities like Chicago, making it one of the biggest utilities in the state and the US. With more than 100 years of history, ComEd has partnered with local companies to develop different community initiatives and charitable contributions regarding education, technology, arts, culture, and environmental matters.
How to benefit from the Energy Choice program?
So here’s where things get interesting. In 1997, when Illinois became a deregulated state, the government approved the Electric Service Customer Choice and Rate Relief Law; this gave electricity customers the power to choose over the supply portion of their bill. So even if, for example, Commonwealth Edison Company is the one and only utility in Chicago, homeowners and business owners may pick which provider they want to buy it from.
Think about it this way, instead of letting ComEd buy the electricity for you, you choose a supplier with a rate and rewards that you like and let ComEd deliver it to you. There are many energy providers to choose from; each one gives you different rates, perks, rewards, and you can even choose if your power comes from renewable resources or non-renewable energy.
Either way, ComEd will continue to distribute power, offer billing and customer assistance, and respond to outages and other emergencies for all customers, whether they decide to choose a competitive provider or not.
Get to know your options
Most energy suppliers provide both fixed-rate and variable-rate energy plans, with contracts ranging from six to up to 24 months. In a nutshell, you’ll be paying the same amount for your power with a fixed-rate plan, regardless of whether the total market price of energy rises or falls. This implies that you can forecast your monthly power cost precisely if you know your energy use.
If the energy price falls, on the other hand, you’ll benefit from a variable-rate plan. However, it’s a matter of luck. If the price rises, you’ll have to pay more, making it more difficult to budget for power each month. You’ll also discover that your energy supplier might boost their prices at any time, so even if you think they’re low, they could be higher than expected.
Choose the right energy supplier for you
You may become your own energy manager and choose the finest supplier for your needs with a bit of research. However, this is not an easy job; you need to do your homework evaluate vendors based on price and contract conditions, and carefully study their programs, rewards, and billing alternatives. If you’re interested in a supplier’s offer, get in touch with them directly to discuss terms, conditions, and enrollment options. Ensure that a new provider is licensed by the Illinois Commerce Commission and registered with ComEd before signing a contract.
On the other hand, taking the effort to locate the most outstanding energy pricing allows you to save money on your monthly energy costs so you can spend it on something more fun. Not only that, but you get the chance to move to a green plan that makes a big difference for the environment.
This is, though, not an easy task to do by yourself. That’s why we’re here for you. At PowerChoiceNow, we help you choose the right power provider in just a couple clicks. Simply insert your zip code, select your utility service, and some data about your energy consumption to compare options. We will provide a list of possible suppliers, along with pricing per kWh, any additional fees they levy, term duration, and a brief description.
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Your transition will be performed in three easy stages once you’ve picked your retail power supplier and asked them to switch your service:
- ComEd will be notified of the change by the retail power supplier you choose.
- ComEd will send you a letter to certify that you wish to begin purchasing power from your new retail electricity provider.
- After you’ve verified your decision, the utility and your new retail power provider will collaborate to finish the procedure smoothly; no one will come to your home to flip a switch, and your service will not be disrupted.
See, it’s simple. Make sure you visit PowerChoiceNow to get the best deals for your energy bills. We also have plenty of articles in case you’d want to learn more about energy deregulation and tips to save money and energy.