CHICAGO (CBS) — There’s a new power player in town, but the Citizens Utility Board says you need to read the fine print.
As WBBM Newsradio’s John Cody reports, Nicor is known for supplying natural gas to the suburbs. But it is now supplying electrical power.
LISTEN: WBBM Newsradio’s John Cody reports
“Nicor Electric is offering a price that’s roughly 14 percent below the ComEd energy price. But that won’t mean 14 percent savings in your total bill, because the energy is about two thirds of your total bill,” explained Citizens Utility Board executive director David Kolata.
The other third of the bill covers power distribution, which will still be handled by ComEd. And Kolata points out other power companies undercut Nicor.
Kolata also says Nicor’s price advantage over ComEd could well end in a year or two.