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CoMed, Inc. Release date: March 9, 2007
Utility helps commercial and industrial customers understand options by offering supply choices
CHICAGO, March 9 -- ComEd is hosting the second in a series of Customer Choice Open Houses to introduce commercial and industrial customers to alternative retail energy suppliers (RESs) and promote competition, since the electric rate increase took effect in January.
"Competition among RESs is strong and robust for ComEd's commercial and industrial customers," said Anne Pramaggiore, senior vice president of Regulatory and External Affairs for ComEd. "We encourage customers to consider an alternative RES because they may offer electricity at a lower price or services beyond what we provide."
Illinois businesses can choose from among 14 alternative electricity suppliers, and five additional RESs have applied to the Illinois Commerce Commission to serve customers in ComEd's territory. In fact, approximately 62 percent of ComEd's large nonresidential customers currently are served by RESs. By the end of this month, ComEd expects 75 percent of its business customers and 50 percent of its total load to be served by other suppliers. Regardless of which energy supplier they choose, customers will continue to receive reliable electricity delivery from ComEd.
ComEd's business customers have had their rates frozen at 1995 levels for nine years. Because ComEd no longer owns power plants and its current electric supply contracts expired at the end of 2006, the company has to purchase electricity from the wholesale market on behalf of its customers. The cost to purchase electricity has increased, and this cost will be passed on to customers without mark up.
"Rate increases for business customers vary widely, depending on the customer's size, use and current supplier," said Pramaggiore. "With higher rates now in effect, the Customer Choice Open House is intended to inform our customers about the energy supply options that are available to them."
Scheduled from 8 a.m. to noon today at the Hyatt Regency O'Hare in Rosemont, the open house will feature 16 RESs, who will be on-hand to provide ComEd business customers with information on how to save on their energy costs and allow them to "shop" for new suppliers with no obligation to purchase.
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 and more than $15 billion in annual revenues. ComEd provides service to approximately 3.8 million customers across Northern Illinois, or 70 percent of the state's population.
Source: Commonwealth Edison Company
CONTACT:
Arlana Johnson of ComEd Media Relations,
+1-312-394-3500
Web site: http://www.exeloncorp.com/
Company Information:
Name: CoMed, Inc.
Address: 601 Industrial Dr.
City: Hicksville
State: OH
ZIP: 43526
Country: USA
Phone: 419-542-7791
FAX: 419-542-6509
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