Following Month of High Temps, ComEd Announces Time-of-Day Pricing Rate to Help Customers Manage Future Energy Costs

Customers can reduce supply and delivery charges on their ComEd bill when they shift energy use to lower priced periods

With the onset of summer, and extreme high temperatures like the ones experienced across July, ComEd announces another option to help residential customers control their cost of electricity. ComEd’s recently launched Time-of-Day (TOD) Pricing offers households the opportunity to reduce bill costs by shifting energy use to periods when electricity rates are lower and demand is reduced. Additionally, this program provides electric vehicle (EV) owners with the potential to earn bill credits.

"To help customers lower their monthly energy bills, Time-of-Day Pricing gives residential customers even more control on what they pay for electricity by selecting when they use it," said Gil Quiniones, president and CEO of ComEd. "What’s more, by avoiding peak pricing time periods, we can all help defer the immediate need to invest in new generation and related grid infrastructure."

ComEd’s TOD Pricing, developed in accordance with the Illinois Climate and Equitable Jobs Act (CEJA), offers a time-variant rate structure where both electricity delivery and supply charges change based on the time of day power is used. Additionally, delivery TOD customers who enroll their EVs can receive bill credits of $2 per vehicle each month for up to 24 months, with a limit of two vehicles per household.

The rate is designed to motivate customers to use electricity during off-peak hours, helping them save money and decrease pollution from fossil fuel energy sources. In contrast, standard electric rates charge customers the same price per kilowatt-hour at any time.

"As customers face new challenges from higher bills, ComEd’s Time-of Use pricing offers customers an opportunity to lower their bills and help the environment," said Rob Kelter, managing attorney for the Environmental Law and Policy Center. "By shifting usage off peak, we can avoid needing to turn on power plants that drive prices up and pollute the air on hot summer days."

TOD pricing periods

TOD enrollees pay less for supply and delivery during off-peak hours, like overnight, and more during the Mid-Day Peak period.

A participating customer’s actual rates will vary based on home and heating type, which determine that customer’s delivery class. Participants can view their current usage information and compare their current rate against TOD Pricing by logging in to My Account and viewing the Rates Comparison tool.

ComEd’s TOD rate is separate from its Hourly Pricing program, which offers customers the option of paying a Supply price that varies every hour based on market prices. In contrast, TOD Pricing offers set prices during four fixed time periods each day, providing participants with a clearer idea of what they'll be charged throughout the day.

There is no cost to enroll in or cancel ComEd’s TOD Pricing. Requests may take two to three billing cycles to take effect. Customers receiving the $2 monthly electric vehicle credit will forfeit any remaining credits if they cancel delivery TOD Pricing participation.

For information on ComEd’s Time-of-Day Pricing rate, visit ComEd.com/TOD.

ComEd is a unit of Chicago-based Exelon Corporation (NASDAQ:EXC), a Fortune 200 company and one of the nation’s largest utility companies, serving almost 11 million customers through six fully regulated transmission and distribution utilities — Atlantic City Electric, BGE, ComEd, Delmarva Power, PECO, and Pepco. ComEd powers the lives of more than 4 million customers across northern Illinois, or 70 percent of the state's population. For more information visit ComEd.com, and connect with the company on Facebook, Instagram, LinkedIn, X, and YouTube.

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