Electricity Costs Surge In Illinois: Energy Professionals Warns Customers Will See Higher Bills, Here's What You Need To Know

Amren's rates increased 47%, from 0.08277 to 0.12180 cents/kWh.

These price increases stem primarily from soaring capacity charges, which are fees paid to ensure sufficient power is available on the grid during periods of peak electric demand.

Beginning this summer, ComEd customers will see an increase in their bills due to the annual PJM Interconnection capacity auction held last year. These costs will be reflected in the supply portion of customer bills, which ComEd passes on directly to customers with no markup. Explained John Schoen, Senior Communications Manager at ComEd.

Experts warn prices may continue to rise, with electricity demand projected to double in the coming years.

"Over the past year, electric utilities have nearly doubled their forecasts of how much additional power they'll need by 2028," reported The New York Times.

The rapid growth of AI data centers, the adoption of electric vehicles, and an overall shift to electrification in homes and businesses have caused a massive surge in electric demand.

Meanwhile, the retirement of old fossil fuel power plants and delays in new renewable energy projects due to regulations and infrastructure issues have widened the gap between supply and demand, putting sustained pressure on electricity prices.

So, what can customers do to minimize the impact of rising costs?

The state's energy choice program allows businesses in Amren and ComEd to shop for competitive electricity supply rates from retail energy suppliers to avoid price spikes tied to the energy market's volatility.

Customers can further lower their bills by reducing energy use during peak demand hours, minimizing energy waste, and improving energy efficiency.

"This summer's price increase is a wake-up call for anyone who didn't have a lower fixed-rate," says Jim Mathers, CEO of Energy Professionals. "Electricity prices in the U.S. have been climbing since 2020, and the trend shows no sign of slowing. Businesses need to take proactive steps now to avoid getting trapped in potentially higher rates later."

Since 2020, U.S. electricity prices have risen an average of 6.8% annually, outpacing general inflation. While Ameren and ComEd have increased their rates, many retail energy suppliers continue to offer competitive pricing options and fixed-rate plans.

Energy Professionals has already helped thousands of commercial and industrial customers across Illinois evaluate their options, negotiate better rates, and gain protection against price volatility. Here is a short video that helps explain how it works: Energy Choice .

To explore your pricing options or request a free rate analysis, visit EnergyProfessionals or call 1-888-473-3829.

Media Contact:
Martino Stanzani
800-920-4631
[email protected]

SOURCE Energy Professionals, LLC

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