ROCKFORD, Ill. (WTVO) — New ComEd energy rates, effective October 1st, are 26% higher than last year, according to the Illinois Citizen’s Utility Board.
ComEd’s new rate for “non-summer” pricing is 9.765¢ per kilowatt-hour (kWh).
The new rate is in effect until March 2023.
Residents will see some relief through the Climate & Equitable Jobs Act (CEJA), which was intended to subsidize the Byron and Dresden generating stations. With the power plants becoming profitable, Illinois is returning that subsidy to residents, in the form of a credit of around 4 cents per kWh through May 2023.
It comes in the form of a line item credit called “Carbon-Free Energy Resource Adjustment.”
That is a consumer reimbursement of an Illinois “Carbon Mitigation Credit” that was designed to keep three nuclear power plants open, including Byron, Dresden, and Braidwood. The Climate and Equitable Jobs Act of 2021 allocated $700 million, over a five-year period, to keep the plants in operation.
However, with energy prices skyrocketing due to natural gas shortages, due in part to Russia’s invasion of Ukraine, the nuclear plants have been making money.
“We are pleased that CEJA can deliver some much-needed relief to consumers in a difficult winter,” CUB Executive Director David Kolata said. “Gov. Pritzker and the General Assembly deserve credit for making sure this consumer protection was included in CEJA.”
Illinois has announced an additional $300 million in funding to help Illinois residents pay their energy bills.
The money comes from the Low-Income Home Energy Assistance Program (LIHEAP), and is available for families who meet criteria to receive natural gas, propane, or electricity bill assistance.
A chart with eligible income thresholds can be found on this webpage.