Why is ComEd offering this rate?
ComEd, along with government and community leaders, are exploring new energy supply rates that are made possible by smart meters and can help customers save money and energy.
What is ComEd's "fixed-price rate"?
When you open a residential ComEd account for your home, your electricity supply is on ComEd’s “default” rate – Rate BES (Basic Electric Service). Even though Rate BES has a set of summer electricity rates and a set of non-summer electricity rates, it is commonly referred to as a fixed-price rate. This rate makes the cost of the electricity you consume the same price for every hour of the day. Learn more about Rate BES.
Why are Time-of-Day Pricing's electricity costs different throughout the day?
Usually the price of electricity is less expensive at night than during the daytime. This rate is designed to reflect the costs of electricity throughout the day. Time-of-Day Pricing’s off-peak rate is intended to encourage customers to shift their energy use from peak periods to periods where the demand for energy – and its price – are typically lower.
What are Time-of-Day Pricing's dayparts?
Time-of-Day Pricing's dayparts are:
Do the electricity prices in Time-Of-Day Pricing ever change?
Yes, Time-Of-Day Pricing has three dayparts: Super Peak, Peak and Off-Peak. Each daypart has its own energy price. Time-of-Day Pricing also has one set of prices that are in effect during the summer months (June through October), and a different set of prices for the non-summer months (November through May). Every year, these summer and non-summer prices will change slightly based on market conditions – just like ComEd’s fixed-price rate.
Why is the Super Peak daypart so expensive?
The Super Peak daypart covers the hours of the day when electricity is most often in highest demand. The price also reflects the cost to ensure there will be enough generation capacity online when demand for electricity is high.
What happens if I enroll, but find I am spending more than I would have on ComEd's fixed-price rate?
You may leave Time-of-Day Pricing at any time without penalty. Please note that depending upon the timing of your unenrollment request, it may take up to three billing cycles for you to return to ComEd’s fixed-price rate as the default service if you do not choose an alternative supplier. In addition, you will not be eligible to return to Time-of-Day Pricing for 12 months.
Can I enroll in Time-of-Day Pricing if I'm currently enrolled in ComEd's Hourly Pricing rate?
Yes. Your account will be removed from Hourly Pricing and placed on Time-of-Day Pricing. Please note that when you leave Hourly Pricing, you will not be eligible to re-enroll in Hourly Pricing for 12 months.
Can I enroll in Time-of-Day Pricing if I currently receive energy supply from an Alternative Retail Energy Supplier (ARES)?
Yes, but you must first contact your ARES and obtain termination from their energy supply before you can submit an enrollment application for Time-of-Day Pricing. Eligibility restrictions apply; see Time-of-Day Pricing Terms & Conditions for more information. Please note, depending upon the timing of your enrollment request, it may take up to three billing cycles before you receive service on the Time-of-Day Pricing rate.
My home has solar panels. Can I still participate in Time-of-Day Pricing?
No. Customers with solar panels are required to be on Rider POG (Parallel Operation of Generation Facilities) or Rider POGNM (Net Metering) and are ineligible to participate in Time-of-Day Pricing. Additionally, customers who elect to participate in a community solar project (Rider POGCS) are also ineligible to participate in Time-of-Day Pricing.
How long does it take for the Time-of-Day Pricing rate to begin after I enroll?
Depending upon the timing of your enrollment submission, it may take up to three billing cycles before you begin taking energy supply under Time-of-Day Pricing.
How will I know if I'm saving on Time-of-Day Pricing?
Participants in Time-of-Day Pricing will receive monthly savings reports via email that compare the price they are paying to what they would have paid on ComEd's fixed-price rate. Additionally, participants with an online ComEd MyAccount can view other helpful usage and cost data on their Time-of-Day Pricing dashboard.
Are there any tools to help me save with Time-of-Day Pricing?
Yes. Participants can subscribe to Time-of-Day Pricing Alerts to receive notifications of days with extremely hot or cold weather, or when local or regional conditions may cause an energy peak on the grid the following afternoon. These alerts can help participants plan their energy consumption during the Peak and Super Peak dayparts in order to maximize savings and improve grid reliability and safety.
How does the Rate Comparison Tool in MyAccount work?
The Rate Comparison Tool examines your historical usage data and estimates how much you could expect to pay over the next 12 months under both ComEd's fixed-price rate and ComEd's Time-of-Day Pricing rate. However, the more you can avoid using electricity during the Peak and Super Peak dayparts, the more you could potentially save with Time-of-Day Pricing. Also try the Rate Simulator to see if additional behavioral changes could increase your savings potential.
Am I required to own a plug-in electric vehicle (EV) in order to participate in the Time-of-Day Pricing rate?
No. Time-of-Day Pricing is a great option for customers who charge their EVs at night, but any ComEd customer can participate in the Time-of-Day Pricing rate.
Must I have an online ComEd MyAccount in order to enroll in Time-of-Day Pricing?
No. Call 1-800-EDISON-1 (1-800-334-7661), Monday through Friday, 8 a.m. to 5 p.m., to be transferred to a Time-of-Day Pricing specialist who can check your eligibility over the phone and enroll you.
I'm just not sure if Time-of-Day Pricing is right for me. Do you think I should enroll?
Contact us at 1-800-EDISON-1 (1-800-334-7661) to be transferred to a Time-of-Day Pricing rate specialist who can discuss your energy usage habits and help put you in a position to decide if Time-of-Day Pricing is a good option for you.