Chicago Weekend Fun!

I just got a message forwarded to my entire office about Com Ed giving customers back credits from 2007 usage costs because of a second rate hike of 22% in January 2008. (the first rate hike of 22% was in January 2007, this is just pure greed now)

Is this rate rebate for real? or is it a Joke?

Well I did some digging and it is hard to find but, on Excelon’s site they have a link to Com Ed and there is a link to more info about electricity rates. There they explain that there is a 1 Billion dollar rebate due back to the people of Illinois and they give some very vague information about how they intend to distribute it in ways we will never know if we each got our share back.

Since Commonwealth Edison has a monopoly in Chicagoland and you can’t get your electricity from anywhere else except possibly solar panels, we are stuck paying whatever they charge. So, in 2007 Lisa Madigan took Com Ed to court over the 22% rate hike they charged. Lisa Madigan and her team of lawyers eventually got Com Ed to agree to a $1 Billion Dollar settlement that gives credits to low income people on their bills who can’t afford the rate hike and some smaller credits on regular customer bills from 2008-2010. After that we’re on our own apparently and any crazy rate hikes are allowed again.

The comed site states the following about the agreement:

• Relief for ComEd customers will be in two forms: programs for residential customers most in need and targeted small business and mid-sized customers, and bill credits providing relief to all residential customers.
• Exelon Generation will provide $747 million of the funding; ComEd will provide $53 million; Ameren will provide $150 million; Midwest Generation and Dynegy will each provide $25 million and MidAmerican will contribute $1 million.
• A total of $488 million will go directly to ComEd residential customers, with the average customer receiving a monthly bill credit ranging from approximately $4 to $13. This reduces the average residential customer’s 2007 rate increase to 13.5 percent, which cuts the increase nearly in half. The impacts reflect averages, and an individual customer’s bill may be higher or lower.
•  The $488 million ComEd customers will receive will be allocated over a four-year period, with $283 million available in 2007 ($250 million in credits to all residential customers and $33 million in targeted programs).

So, does this apply to you?

If you have cancelled your electric service with them but still were an active customer in 2007 and want your rebate, you have to go to the ecelon/comed/care website and download the form, fill it out and mail it in to them. If you are a low income household and want a rate reduction you have to call them and the billing department and show just cause and income docmentation to get it. if you are a regular customer your rate reduction should happen automatically on your bill. Check your comed bill to make sure, and if it isn’t there call them at the customer service number on the bill to complain and have it refunded on the next bill.  I plan on checking my electric bills tonight.

Update: I looked on my electric bills and found no credits or discounts from this refund program. I am not a low income qualified person nor have I asked for assistance but the way this has been explained in the press you would think everyone would get a credit of some kind. I am going to call them and ask about why I haven’t gotten any credits or refunds yet. If you haven’t gotten any refunds or credits either, give the Commonwealth Edison Customer Service number a call and ask why you haven’t either.