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ComEd Customers' Bills to Decrease More Than 9 Percent Beginning in June

Posted on: Friday, 29 May 2009, 13:05 CDT

Customers benefit from drop in wholesale electricity prices and lower transmission charges

CHICAGO, May 29 /PRNewswire/ -- As summer approaches, ComEd customers will see their bills decrease by more than 9 percent beginning June 1 - a reflection of declines in the cost of wholesale electricity and lower transmission charges.

ComEd estimates the average residential customer's total monthly bill will decrease by approximately $8 beginning in June, when new wholesale power contracts take effect.

"The market forces that are impacting supply and demand dynamics for fuel and other commodities have lowered prices for electricity," said Anne Pramaggiore, President and Chief Operating Officer, ComEd. "This is good news for our customers who continue to grapple with the global economic recession."

The new rates ComEd filed recently with the Illinois Commerce Commission (ICC) reflect the lower power costs captured in a competitive procurement process run by the Illinois Power Agency (IPA). ComEd, which must replace approximately 30 percent of its power needs for the next year through this process, passes through power costs to its customers without any markup.

The new power prices affect ComEd residential customers as well as small business customers that take electricity supply from ComEd. The company has also filed with the ICC a lower transmission service charge for residential and small nonresidential customers.

The cost of electricity itself represents about two-thirds of the average residential customer bill. The remaining one-third of the bill is related to ComEd's costs to deliver the electricity to the customer's home or business.

Recognizing that customers continue to feel the impact of the economic downturn, ComEd is making more than $15 million in assistance available this year for customers most in need of help to pay their energy bills. The assistance is part of an array of resources to help customers. Customers can visit www.ComEd.com or call 888-806-CARE (2273) for more information.

Commonwealth Edison Company (ComEd) is a unit of Chicago-based Exelon Corporation (NYSE: EXC), one of the nation's largest electric utilities with approximately 5.4 million customers. ComEd provides service to approximately 3.8 million customers across northern Illinois, or 70 percent of the state's population.

SOURCE ComEd

Source: PR Newswire

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