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Chicago electricity bills to increase by May

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Were you one of those people that signed up for the great Chicago based electricity supplier – Integrys Energy Services at the beginning of 2013? Well guess that big savings has just gone out the window, as the City announced Sunday the savings will now be a massive $34 a year; after they sign a new deal with Integry.

The new deal, as reported by Crain's Chicago Business Senior Reporter Steve Daniels, is a hearty 18 percent increase and could very well be increased to 20 percent by June.

The City projected that there would be a savings of 20 to 25 percent a month on customers first electricity bills from February to June in December 2012, representing about $25 in monthly savings for the average household; the life of this agreement was to end in May 2015. The new deal will save customers far less then what was claimed with the first deal, guess those wind farms are blowing in a different direction now. Under the new deal the pricing structure will shift to a demand-based electricity supply approach that is designed to result in lower rates for households that use less electricity. The new pricing will begin with the May 2014 meter read and is based on a two-part pricing structure, called "My Balanced Energy Plan." The plan produces lower rates for smaller electricity users by setting a low energy fixed price of 5.299 cents per kilowatt-hour and a monthly customer charge of $22.36 for single-family customers and $9.06 for multi-family customers.

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