The Citizens Utility Board (CUB) has revealed that since 2015, Illinois consumers have lost a staggering $1.8 billion by choosing alternative electricity suppliers over their traditional utilities, Commonwealth Edison (ComEd) and Ameren Illinois. Over the last year alone, losses amounted to $297 million, as customers who switched paid significantly higher rates—up to 3 cents more per kilowatt-hour for ComEd customers and 2.4 cents more for those in Ameren territory.
CUB's review of state reports indicates that in the early years of electricity competition, customers could save money by opting for alternative suppliers due to the high cost of utility contracts. However, since those contracts expired, these suppliers have struggled to offer competitive rates, leading to dismal results for consumers.
The watchdog group is now issuing a statewide warning, urging Illinois residents to scrutinize their electric bills, especially the "Supply" section, to determine if they are paying an alternative supplier. CUB advises against falling for high-pressure sales tactics often used by these suppliers and recommends exploring more reliable ways to reduce energy costs. These include utility-backed energy efficiency programs, demand-response programs like ComEd Peak Time Savings, and the exploration of solar energy options, which offer a more sustainable approach to lowering bills.
CUB emphasizes that, in most cases, sticking with the utility's standard supply rate is the safest financial decision for consumers.
