The ComEd supply rate declined on June 1, 2023 from last year’s effective rate of 10.2¢ per kWh to a new annualized base rate of 6.9¢ and will decline further to an annualized base rate of 6.6¢ on June 1, 2024.

This is splendid news for ratepayers—if they only view the top half of their ComEd bill.

The Carbon-Free Energy Resource Adjustment (CFRA) flipped from its original ratepayer credit of 4.306¢ per kWh to a charge of 1.355¢ as of May 2024. You’ll find this under the Taxes & Fees portion on your ComEd invoice.

This adjustment enabled by CEJA, which Governor Pritzker signed in 2021, aims to ensure preservation of carbon-free nuclear generators. Details here.

That brings us to the “Feels Like” rate chart. Taking a page from meteorologists—excepting we present facts, not forecasts—we can report that although the ComEd supply rate has declined 35%, all else being equal, your summer 2024 ComEd bills will be and feel higher than summer 2022.

Costs that were actually 7¢ in June 2022 (supply plus CFRA credit) are 9.3¢ in May 2024 (supply plus CFRA charge.)

But then again, check with your meteorologist. Maybe they’re forecasting a mild summer. Maybe your power consumption and ComEd bill will decline after all.

Data source: Filings by the Chief Clerk’s office, Illinois Commerce Commission