ComEd Ratepayer Refund Approved by ICC
ComEd’s $31 million settlement offer to refund ratepayers for their bribery scheme was approved unanimously by the Illinois Commerce Commission last week. Another $7 million was added by ComEd under the Federal Energy Regulatory Commission jurisdiction for a total refund of $38 million.
While the average household ratepayer in Chicago is estimated to receive a nominal refund of $4.80, a building member should expect a slightly larger – though still nominal – refund. For example, a 900,000 square foot building with 400,000 kWh monthly usage is estimated to receive a refund of approximately $664.
It is expected that refunds will be credited to ratepayer bills in April 2023. Any residual amounts in the fund will be credited to ratepayer bills in October 2023.