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Illinois CUB Alerts Customers Of New Prices To Compare
October 21,2019 The Illinois Citizens Utility Board (CUB) on Friday alerted consumers to previously reported default service price changes which took effect on October 1 As previously reported, the ComEd residential PTC is now 7.224 cents per kilowatt-hour (kWh) "Consumers who are pitched an offer from an alternative energy supplier should compare that company's price to ComEd's supply rate above. Since 2015, Illinois consumers have lost nearly $800 million to alternative energy suppliers, according to the latest statistics from the Illinois Commerce Commission's Office of Retail Market Development. Knowing ComEd's 'price to compare' helps consumers make informed decisions about their power bills and avoid rip-offs," CUB said As previously reported, the Ameren PTC is 4.715 cents per kWh for usage 0-800 kWh, and 4.476 cents per kWh for usage above 800 kWh. CUB said that when evaluating an alternative supply offer, follow these tips: • Don't give out your electric bill or account number unless you are sure you want to switch. An unethical marketer could use your account information to switch you to an alternative supplier without your consent. • Ask if the rate is an introductory or promotional rate, how long it lasts, and what the new rate will be once the temporary rate ends. • Ask if the plan charges a monthly fee, which will inflate the per-kWh rate. • Ask if the company charges an exit fee. Exit fees are capped at $50, and you can avoid the fee if you cancel the contract within 10 days of when the supplier's charges first appear on the bill. (Note: The Home Energy Affordability and Transparency [HEAT] Act, which CUB supported, outlaws exit fees, beginning Jan. 1).
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