Changes That Affect Your 2024 Illinois Power BillsPosted on
New Laws And Your Illinois Power Bills
Understanding your Illinois electricity bill can be difficult, especially when reading legalese becomes involved. And with several new laws taking effect this year, it may seem harder to predict your electricity costs. But don't worry. We're here to explain the new legislation affecting your power bills. And how you can save money with the best energy supplier.
New Illinois Power Shutoff Law
Signed into law in June, House Bill HB1541 amends the Illinois Public Utilities Act to protect consumers during extreme summer heat. In other words, electric and natural gas companies can't cut off service to residential customers with unpaid bills when the temperature exceeds 90 degrees. This also includes when there is a heat watch, advisory, or warning.
Chicago has been breaking heat index records in recent years. And with temperatures across the world skyrocketing, this sort of legislation can help prevent heat deaths. So while this change won't affect your electricity bill directly, it could save lives all across the state.
Illinois Rate Hikes Affecting Your Power Bills
Next are some changes that will directly affect your electricity prices. Back in November, the Illinois Commerce Commision (ICC) began reviewing and cutting proposed rate hikes from several major gas and electric utility providers. And while those hikes were cut dramatically, there's still going to be a few price differences.
Ameren customers can expect to pay an extra 4.33 every month on average for their electricity. However, natural gas rates should be about $17 less than they were last year. But that Ameren rate could increase if their amended grid plan design is accepted this spring.
Meanwhile, ComEd customers shouldn't see much of a price increase at all. The ICC rejected the utility's rate hike request because their proposal didn't comply with Illinois clean energy laws. However, ComEd is expected to return in the spring to offer a new rate hike proposal.
Don't Let Rate Hikes Get You Down
But you can avoid these rate hikes. By shopping for a lower fixed electricity rate, you can save money and lock in your rate throughout the year. So, using the Illinois average electricity usage of around 720 kWh a month, let's compare these rates.
If you're an Ameren customer, we have just the plan for you. The Xoom Energy Surelock 24 is offering a 2 year fixed rate at only 6.09 cents per kWh. There is a monthly charge of $4.99 to consider. But even with the monthly charge, compared to the current PTC rate you could save $15 a month. That's $180 in a year! In addition, you can sign up for the XOOM Energy rewards program, Xoom Extras. Their program helps earn you discounts, gift cards, and brings you more value than just an electricity plan.
If a long contract isn't right for you, then you can also check out NRG Home and their Flex Electric Choice plan. This 3 month fixed rate will only costs you 6.80 cents per kWh. Compared to the current PTC rate, you could save $13 a month. And without any pesky monthly fees to worry about, all those savings are yours to keep.
Shop and Save on Your Illinois Power Bill
Understanding what's affecting your electricity bill doesn't have to be complicated. And neither does saving money on electricity. That's because we not only help make choosing plans easier, we can help you save more. Compare and shop the best plans at https://www.ilenergyratings.com