CHICAGO, July 29, 2015 /PRNewswire-USNewswire/ -- The
Citizens Utility Board (CUB) has unveiled a free calculator to help
residents determine how to save the most money in the Illinois electric market.
The CUB Power Calculator, at www.CUBPowerCalculator.com,
is designed to help residents learn what they would pay with an
alternative electric supplier versus the regulated utility,
Commonwealth Edison or Ameren Illinois.
"Illinois electric customers
need to be savvy shoppers," CUB Executive Director David Kolata said. "CUB wants to help
Illinois families avoid rip-offs
and choose the right electric option for their household."
The calculator serves consumers living in both ComEd and Ameren
territories. In a few steps, the tool allows users to type in the
alternative supply rate they wish to compare to the utility's
price, any extra monthly fees charged by the supplier, and their
estimated monthly electricity usage for the summer (June through
September 2015).
The calculator will then determine what the user would spend
with the alternative supplier offer versus ComEd or Ameren. (The
tool, for now, only calculates summer months since utility supply
rates are not known beyond September
2015. CUB will update the calculator when it learns of the
new prices.)
Illinoisans can stay with the utility for their supply rate and
are under no obligation to switch to another supplier. Shoppers
evaluating an alternative supplier deal should use CUB's calculator
and ask these questions:
- Is the advertised price a variable rate that will change
monthly, or a rate that is fixed for a certain period?
- Is the alternative supplier price an introductory rate that
could skyrocket after a few months?
- Does the offer force me to pay an exit fee if I want to get out
of the contract? (Just this year, CUB successfully pushed for a new
law that caps electric exit fees at $50 for offers going forward.)
Shoppers also should know that it can take up to two months to
switch to an alternative supplier, so a deal that looks good now
may not be in the future. Plus, consumers should not give out their
electric bill or account number unless they are sure they want to
switch. That's an invitation for an unethical marketer to switch a
customer to an alternative supplier without his or her consent.
CUB is Illinois' leading
nonprofit utility watchdog. Created by the Illinois Legislature,
CUB opened its doors in 1984 to represent the interests of
residential and small-business utility customers. Since then, it
has saved consumers more than $20
billion by helping to block rate hikes and secure refunds.
For more information, call CUB's Consumer Hotline, 1-800-669-5556,
or visit its award-winning website,
www.CitizensUtilityBoard.org.
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SOURCE Citizens Utility Board