Today, one of our sources for residential electricity news, Energy Choice Matters, released a story titled “SHOCK, ComEd Sees Large Decrease in Residential Customers on Competitive Supply”
Using the data from Plug In Illinois (Same for ECM story), here is the provided graph of the residential customers on competitive supply.
With a visual representation, 2 thoughts come to mind. First, 17,000 consumers is a drop in the bucket; given the growth rate of residential on competitive supply in the past 2 years, 17,000 is a very small number.
Second, and more concerning; is the competitive supply plateau that residential customers seemed to have hit. As ECM said: “ComEd has never seen a monthly decrease in residential shopping until now”
Why in the world would a plateau like this happen, just two years after residential shopping in Illinois?
One big answer might be municipal aggregation. CUB (Citizens Utility Board) mentioned that 230 communities and counties were considering a municipal aggregation referendum in April. They have a great article on the topic here.
Another important note is that ComEd prices have recently “corrected” themselves. Roughly 6 years ago, ComEd signed a long-term contract that locked in higher than average prices, and on June 1st this year, the contract expired. This allowed ComEd to offer more market-competitive rates.
So, all in all the current correction and municipal aggregation that has recently happened this spring has lead to an interesting play in the Illinois energy industry.