Electricity

The only Chicago-area electricity provider is Commonwealth Edison (ComEd), a division of Exelon Corporation. The following sections are based on ComEd requirements for residential and commercial use.

Residential Accounts
Whether you are renting or buying a residential space, ComEd charges a security deposit based on your credit report and payment history with them. You must pay a connection charge to get new service.

Your real estate professional or the present occupant should be able to provide you with an estimate of monthly electrical costs. ComEd cannot provide estimates of residential properties, but can do so for commercial and industrial properties.

The City of Chicago offers assistance to pay electrical bills through the Cook County Community and Economic Development Association (CEDA). To participate in the program, you must meet eligibility requirements based on income and family size. Contact CEDA at 312-795-8844 or click here for information.

Commercial Accounts
To find out the average electrical costs for a commercial or industrial property, ComEd will require the street address to research the space. Your electrical costs might be higher or lower than the quote you are given, depending on how you use the property.

Unfortunately, when you establish service for a commercial or industrial space, you will be expected to pay a deposit based on the amount of electricity used by the previous occupant. Therefore, if the present occupant is an energy hog, you might have to pay a deposit several times the monthly electrical bill! If the average bill is $300 per month, you might be expected to pay a deposit of $900!

For commercial and industrial space customers, ComEd offers Smart Returns, an incentive program for business customers to reduce their consumption during peak-use hours, and other initiatives worth investigating.

Mixed-Use Space
For mixed use spaces, the type of account you open with ComEd is based on your primary use of the space. If you have a live/work space in a storefront/commercial property, ComEd will have to evaluate the property in person to determine how the space is primarily used. If your use is determined to be primarily for commercial purposes, then you should expect a business account. If it is deemed to be for residential purposes, then you will usually be able to obtain a residential account.

TIP: If you rent a studio, and are billed for electricity by your landlord on a per-square-foot basis, you could end up with expensive bills if the other tenants in the building are engaged in businesses that eat up lots of electricity. Essentially, you subsidize their electricity bills.