Why Your Electricity Bill Soon Could Be Dropping

There's likely to be a little bit of good news in your electricity bill starting in 2016.

The Illinois Commerce Commission has approved rate a decrease for ComEd next year, the first such reduction in three years. According to the Chicago Tribune, that means you should see a smaller bill in January:

The lowered delivery rate announced Wednesday reflects efficiencies generated from the ongoing rollout of ComEd's smart grid. It's expected to translate to a savings of about $1 per month on the average residential bill beginning in January, the company said.

The delivery of electricity represents about 40 percent of a customer bill, with cost of supply — the actual energy itself — accounting for the balance.

The ICC approved a $67 million rate decrease, $17 million more than the $50 million decrease ComEd proposed.

One dollar each month isn't going to pay for your retirement, of course. But it's better than an increase!