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Thanks to Illinois deregulated energy market, which has led a number of retail energy providers to head to the state and begin selling discounted electricity to residents, more customers are switching away from state utility ComEd, the Chicago Sun-Times reports.
According to the media outlet, many residents are becoming fed up with the mess of red tape ComEd is having to go through to lower electricity rates – an action being taken in an attempt to compete with members of the flourishing competitive energy market. By the end of August, 21 percent of ComEd's residential customers, or 712,634 people, had switched to a retail electricity supplier other than ComEd. This marks a 35 percent increase from the number of people who had switched in July.
The decision to switch has been easy for customers, considering 30 suppliers exist in ComEd'S service territory, and all offer rates that are comparable to or lower than ComEd's. What's more, many of these suppliers offer green energy packages, which give customers the option to receive their energy from 100-percent renewable sources, the news provider stated.
ComEd has been working with the state of Illinois to introduce revolutionary upgrades to the region's power infrastructure, which could have many benefits, but would also raise electricity rates for the next 10 years.