ComEd Launches Time-of-Day Pricing to Curb Summer Energy Costs
Event summary
- ComEd introduces Time-of-Day (TOD) Pricing for residential customers to manage electricity costs during peak summer demand.
- Program offers bill credits of $2 per EV for up to 24 months, with a limit of two vehicles per household.
- TOD Pricing aligns with Illinois Climate and Equitable Jobs Act (CEJA), incentivizing off-peak energy use.
- Rate structure includes four fixed time periods daily, with varying costs for supply and delivery.
- Enrollment in TOD Pricing is free, but changes may take two to three billing cycles to take effect.
The big picture
ComEd’s Time-of-Day Pricing is a strategic response to summer peak demand and rising energy costs, aligning with broader state-level climate initiatives. The program aims to defer infrastructure investments by reducing peak usage, while also offering financial incentives for EV owners. This move reflects a growing trend among utilities to implement dynamic pricing models as part of their sustainability and cost-management strategies.
What we're watching
- Adoption Rates
- How quickly residential customers, particularly EV owners, will enroll in the TOD Pricing program.
- Cost Savings Impact
- Whether the shift to off-peak energy use will significantly reduce overall electricity costs for participants.
- Regulatory Alignment
- The extent to which ComEd's TOD Pricing will influence other utilities in Illinois to adopt similar rate structures under CEJA.
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