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ComEd Residential Customers On Retail Supply Paid $88 Million More Than Price To Compare From June 2022-May 2023 (1.8¢/kWh)
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Staff of the Illinois Commerce Commission's Office of Retail Market development have filed an annual report on the retail electric market, covering the 12 months ending May 2023.
The report states, "On average, residential ARES customers in the ComEd territory paid around $7.37 million more
per month during the past twelve months when compared to the ComEd Price-to-Compare
(PTC) and $6.89 million more per month during the last twelve months when compared to the
ComEd PTC including the Purchased Electricity Adjustment (PEA)."
"In terms of cents per kWh,
residential ARES customers in the ComEd territory paid about 1.83 cents/kWh more when
compared to the ComEd PTC only, and about 1.74 cents/kWh more when including the PEA," the report states
In the month of June 2022, the aggregate cost to ARES residential customers at ComEd was $729,570 lower than the price to compare. In every month from July 2022 to May 2023, the aggregate cost to ARES residential customers at ComEd was higher than the cost under the PTC.
The total paid in aggregate by residential customers on retail supply at ComEd in excess of the PTC was $88.5 million for the 12-month period ending May 2023
"In the Ameren territory, residential ARES customers on average saved around $4.87 million per
month during the last twelve months when compared to the Ameren PTC and saved $5.52
million per month during the last twelve months when compared to the Ameren PTC including
the PEA," the report states
"In terms of cents per kWh, residential ARES customers in the Ameren territory saved
about 1.218 cents/kWh when compared to the Ameren PTC and saved about 1.435 cents/kWh
when including the PEA," the report states
The total savings in aggregate by residential customers on retail supply at Ameren below the PTC was $58.4 million for the 12-month period ending May 2023
The ORMD report includes the following statements concerning the price data:
"While reviewing these estimates, it is important to keep in mind several caveats:
• These are total, or aggregate, savings. The savings for almost all individual customers differ from
these averages;
• These calculations are ex-post calculations and do not take into account how the ComEd default
rates would have been different had more or fewer customers stayed on the utility’s default
supply service;
• Most of the ARES that serve residential customers have at least one offer that features a
renewable energy or “green” component. The average rate information collected from the ARES
include the (usually higher) prices associated with those offers;
• Not captured in these numbers are rewards and incentives that are not part of the ARES electric
supply rates. For example, several ARES offer one-time gift cards as an incentive to sign up for a
particular offer; other offers contain rewards such as airline miles and other non-rate benefits.
However, those non-rate benefits are difficult to quantify and include in such calculations.
Additionally, Staff would have to make several more assumptions and receive far more
additional detailed data from the ARES community to quantify the non-rate benefits offered by
ARES."
As of the end of May 2023, approximately 1.12
million residential customers were on ARES service, compared to roughly 1.33 million customers in 2022
As of May 2023,
the number of ARES residential customers in the ComEd territory only comprises 19% of the total
ComEd residential market - including both non-aggregation and aggregation customers.
In the ComEd area, 36% of customers are municipal aggregation customers. This is an
increase of 3% compared to 2022.
As of
May 2023, about 42% of residential customers in the Ameren territory were on ARES supply compared
to 56% the previous year.
Of the 439,579 residential ARES customers in the Ameren territory, 72% are
municipal aggregation customers. This represents a decrease of 11% compared to the 83% aggregation
share from 2022.
Based on pricing data required to be reported by suppliers, ORMD said that the highest residential rate charged in the
ComEd territory during the report period was a variable rate charged in May 2023 of 39.1 cents per kWh.
The highest residential rate charged in the Ameren territory during the report period was a
variable rate of 30.75 cents per kWh in October 2022.
Link to ORMD report
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Ameren Residential Customers On Retail Supply Saved $58 Million Versus Price To Compare From June 2022-May 2023 (1.2¢/kWh)
July 24, 2023
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Copyright 2010-23 EnergyChoiceMatters.com
Reporting by Paul Ring • ring@energychoicematters.com
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