ComEd Feeling Heat From New Competitors

CHICAGO (CBS) — ComEd is beginning to feel the heat from new competitors.

As WBBM Newsradio 780’s Regine Schlesinger reports, more Chicago-area consumers are switching to other providers for their electricity.

LISTEN: Newsradio 780’s Regine Schlesinger reports

Some 10 companies are now challenging ComEd’s monopoly on residential electric services in the area. All are relatively unknown, out-of-state companies.

But now, ComEd is expected to get competition from a more familiar name. Nicor Electric is entering the market later this month, Crain’s Chicago Business reported.

Nicor Electric is a subsidiary of natural gas provider Nicor, which has 2 million customers in the Chicago suburbs.

A new report shows 83,000 consumers have switched from ComEd to other providers since competition began in earnest in the beginning of this year, the Chicago Sun-Times reported.

But that is still just a drop in the bucket – only 2 percent compared with ComEd’s nearly 3.5 million customers in northern Illinois.

ComEd is a subsidiary of Exelon Corp.

  • Roberta Waker

    About time ComEd had some competition. Our village is checking with other suppliers for our electricity as well and I know they will lose even more customers as this spreads in the Southwest suburbs. We are tired of getting raped and now we can do something about it.

  • Chivi

    I agree. Once we get another offer we will say goodbye to ComEd. People’s Gas is hopefully next!!

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  • Joe

    The Residential Gas market has been deregulated for 10+ years. So, in terms of the residential gas market, you have had the ability to buy from an alternate supplier for over 10 years. Why haven’t more people taken advantage of it?

    Because it is a scam, the long range study conducted by the ICC showed that people who selected a alternate Gas supplier for residential service ultimately paid more money in terms of commodity price in the long run. The consumer ultimately gets fleeced in terms of deregulation. I know because I used to sell and price out these deals. The savings is only there for large scale suppliers, small time residential customers think they are getting a deal but ultimately they don’t. The fact is they do not understand the nuances of the industry enough to make an informed decision.

    The concept of customer choice as it applies to residential energy suppliers is a myth, you cannot disconnect the electric tranmission lines or gas pipes from your house. You still pay money to the state sanctioned Monopoly aka your local utility aka Peoples and ComEd.

    The local utilities only make money on the distribution (read transmission) of the commodity. Their rates are based around transmission, the actual price per Kilowatt or therm(for gas) is set by the ICC based upon market value every month. Peoples and ComEd make zero dollars in terms of margin on actual the Gas and Electricity, they only make money on the transmission. However, it does hurt their revenue…

    The BS part of it is that they are not state owned and they are allowed a rate of return as Monopoly.

  • Peace-N-Love

    This ariticle is misleading and you people are idiots if you think by going to a competitor you are saying good bye to ComEd. Who do you think owns all the substations? Power lines? Generating Stations? Who do you thinks is going to come out to read your meter or turn your lights back on after a storm? ComEd that’s who!!! You think you are going to a competitor BUT they are more like middleman. Why?! Guess who the competitors are buying the electricity from? Correcto mundo! ComEd that’s who!

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