Residents in Park Forest should expect higher electric bills this summer following a 10 to 15 percent rate increase by ComEd, the region’s primary electricity provider.
The rate hike, which took effect June 1, impacts the “capacity charge” portion of monthly electric bills. According to ComEd’s website, the charge may appear as a separate line item for customers on hourly pricing plans or be included in the electricity supply charge for those with fixed-rate plans.
A ComEd spokesperson told WGN-TV the increase is passed directly from the company’s supplier to customers with no added markup. On average, residential customers can expect their monthly bills to increase by about $10.60.
Carrie Malfeo, sustainability coordinator for the Village of Park Forest, said the change could create a significant financial strain for some households.
“This increase will have an impact for some residents,” Malfeo said. “However, now is the best time to make your home energy efficient and take advantage of the many programs and support opportunities.”
Malfeo encouraged residents to sign up for ComEd’s free energy efficiency assessment program, which offers complimentary and discounted products to help lower energy usage. She also pointed to assistance programs such as LIHEAP (Low Income Home Energy Assistance Program), Payment Plans, Fresh Start Services, and the Catch Up and Save program.
To estimate their new capacity charge, Malfeo advised customers to multiply their individual “capacity obligation” by the “capacity charge rate.” The capacity obligation reflects expected usage during peak demand, typically hot summer afternoons, and is unique to each customer.
ComEd said the capacity charge rate is based on market conditions and is recalculated annually. The new charges will appear on customer bills starting in July.
According to the utility, capacity charges help ensure that enough electricity is available during periods of peak demand. The rate, updated each June, is determined by a combination of a customer’s past summer energy usage and market-set prices.
Customers seeking more information can visit ComEd’s website.