Just as the Chicago area is getting ready for air conditioning weather, residents can expect to be jolted by higher electric bills.
Starting June 1, Commonwealth Edison customers on average will see monthly bills jump 21 percent, to about $82 a month from about $69 a month.
City residents and others who have switched to competing suppliers won't escape the higher prices because the cost of all electric power is higher.
"The increase that was announced today is something that is going to affect everyone … no matter who you use to supply electricity," said David Kolata, executive director of consumer advocate group Citizens Utility Board, based in Chicago.
Electricity prices are higher because there are currently fewer cheaper players in the market. Coal-powered plants, which used to be less expensive to run, need to make investments to meet more stringent environmental regulations. They either charge higher prices to keep providing power or close down.
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Fri May 09, 2014 9:56 am
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