ComEd bills jump in June due to heat wave, wholesale electricity cost increase
Many Northern Illinois residents got sticker shock upon opening their ComEd electric bills for the month of June.
A record heat wave and a rise in wholesale electricity prices drove up costs.
Unfortunately, things could get even worse next year. The watchdog group the Citizens Utility Board says on Tuesday, PJM — a company that controls the electric grid regionally —set a record price of $329 per unit of energy following capacity auction.
That figure is vastly higher than the $269 set in 2024.
That wholesale energy cost is passed down to utility companies like ComEd.
CBS News Chicago has reached out to ComEd, which has not yet announced what the supply price will be next summer. ComEd issued this statement:
"ComEd remains committed to keeping energy affordable today and planning for a more reliable future; and we recognize that rising electricity costs are challenging for families across northern Illinois. The latest PJM auction reflects broader market challenges, like increasing demand and fewer available generation resources. While ComEd doesn't profit from these prices, we're acting now to support our customers with bill assistance, including the $10 million Customer Relief Fund as well as our delivery of flexible payment options, and energy efficiency programs, while working with Governor Pritzker, Attorney General Kwame Raoul, and other stakeholders to advocate for reforms to modernize how capacity is priced."
ComEd said the results of the PJM auction on Tuesday will be reflected on customer bills beginning in June of next year.
