Independent guide. Not affiliated with ComEd. Based on the ComEd Hourly Pricing program tariff and PJM public market data.Verified May 2026

ComEd Hourly Pricing 2026: tracking PJM real-time at the household meter

ComEd Hourly Pricing is one of only a handful of US residential rates where the supply price tracks the wholesale market hour by hour. For households that can shift load, it typically saves 10 to 30 percent versus ComEd's Fixed Price default. For households with heavy unavoidable peak-window load, it can cost more. The 2014 polar vortex remains the cautionary tale; the program now includes opt-in price-ceiling protection that addresses the worst-case downside.

Typical overnight

2-4c

supply only, midnight-6am

Typical daytime

5-8c

supply only, non-peak hours

Summer peak avg

15-25c

supply only, hot afternoons

Grid-stress worst case

$1-$2

supply, rare hours, e.g. polar vortex

How Hourly Pricing differs from Fixed Price

ComEd's Fixed Price residential tariff sets a single supply rate (currently around 8 to 11 cents per kWh, updated annually) that applies to every kWh regardless of when consumed. The price is set in advance based on ComEd's forecast wholesale costs plus a hedge buffer that protects against forecast error. The hedge buffer is real money; ComEd typically over-collects on Fixed Price during normal months because the hedge cost embedded in the rate exceeds the actual realised price. The over-collection funds the worst-case month when the realised price spikes.

Hourly Pricing removes the hedge buffer. The participant pays the actual PJM wholesale price each hour, plus a small fixed adder (about 2 cents per kWh) that covers ComEd's program administration costs, capacity charges, transmission, taxes and other items unrelated to the energy. Over the course of a normal year, the Hourly Pricing participant saves the hedge buffer (typically 1.5 to 2.5 cents per kWh) plus picks up additional savings during overnight hours when wholesale prices are very low. The participant gives up the hedge protection: during a polar vortex or summer heat wave, hourly prices spike and the participant pays the spike directly.

The 2014 polar vortex and what changed afterward

The 2014 polar vortex (specifically the morning of January 6, 2014) produced the worst hourly prices in PJM history. ComEd Hourly Pricing customers saw prices over $2 per kWh for about 4 hours that morning as the gas system struggled to deliver fuel to both heating customers and generators in subzero temperatures. A typical Hourly Pricing customer paid $50 to $200 more than usual for that single week.

ComEd responded over the following years by adding three protections. First, automated price-alert texts to participants when next-day day-ahead prices forecast above set thresholds (typically 30 cents per kWh), giving households time to plan to reduce load. Second, an opt-in price-ceiling option that caps the hourly price at $0.50 or $1.00 per kWh during extreme events, with the cap funded by a small premium on all hours. Third, an enhanced bill-analysis tool that shows the participant their actual hourly bill versus what they would have paid on Fixed Price, so the comparison is visible and the decision to stay or leave can be made on real data rather than perceived risk.

Who actually saves money on Hourly Pricing

The Citizens Utility Board (CUB), an independent consumer advocacy organisation in Illinois, has run multi-year studies of Hourly Pricing participant outcomes. The pattern: about 75 to 80 percent of participants save money versus Fixed Price, with average savings around $150 to $300 per year. The 20 to 25 percent who pay more tend to share specific characteristics: large summer AC load that runs through peak hours, no smart thermostat or load-shifting discipline, no battery to ride out the worst hours, and no EV (an EV is actually an advantage on Hourly Pricing because the charging can be scheduled to the cheapest hours).

The single best predictor of savings on Hourly Pricing is whether the household runs major loads (HVAC, water heater, EV charging, pool pump, laundry, dishwasher) on a schedule that responds to price signals. A smart thermostat with grid-aware modes (Ecobee, Nest, Honeywell T9), a smart EV charger that schedules to lowest-cost hours, and a willingness to defer laundry by an hour or two will capture most of the available savings. Households that operate everything on a fixed routine regardless of price will see smaller savings and bear the full downside of price-spike events.

The PJM wholesale market in plain English

ComEd is a member of PJM Interconnection, the regional transmission organisation covering all or part of 13 states from Illinois to Virginia. PJM runs a wholesale electricity market with two settlement processes: day-ahead, which schedules generators for the next 24 hours based on a forecast load curve and clearing price, and real-time, which adjusts every 5 minutes for actual load and contingencies. Each settlement produces a locational marginal price (LMP) for every node on the grid, reflecting the marginal cost of supplying one more MWh at that location.

ComEd Hourly Pricing bills participants at the real-time LMP for the ComEd load zone, averaged hourly. On a normal weekday night in spring, that price might be 2 cents per kWh; on a hot summer afternoon, 12 to 25 cents; during a winter cold snap or generation outage, 50 cents to several dollars. The full range is published in real time on the PJM website and via the ComEd Hourly Pricing program portal. Participants who want to engage actively can monitor the prices and shift load in response; participants who set their loads on a schedule and trust the program to deliver average savings see slightly smaller but still meaningful results.

How Hourly Pricing stacks against municipal aggregation

Many Chicago-area suburbs (Naperville, Evanston, Oak Park and dozens of others) run municipal electricity aggregation programs. The municipality holds a competitive auction every few years for a fixed-rate supply contract that covers all residents who do not opt out. Aggregation supply rates typically beat ComEd's Fixed Price by 5 to 15 percent. Residents are auto-enrolled in their municipality's contract; ComEd still owns the wires and sends the bill.

For households in a municipality with an active aggregation, the financial question is whether Hourly Pricing's additional savings (typically another 5 to 15 percent below aggregation) justify the variability. For risk-tolerant households with load-shifting discipline, yes; for households that value bill predictability, the aggregation is the better choice. For households in a municipality without an active aggregation (or whose aggregation contract has expired and not been renewed), Hourly Pricing is the main alternative to ComEd's higher default Fixed Price.

Practical tactics for Hourly Pricing participants

Five tactics that capture most of the available savings on Hourly Pricing. First, install a smart thermostat with utility-program integration (Ecobee with ComEd Peak Time Savings, Nest Renew) so the AC pre-cools before forecast peak hours and lets temperature drift up during peaks. Second, schedule the dishwasher and laundry to start at 1am or 2am rather than evening; the wholesale price is typically 60 to 80 percent lower overnight. Third, schedule EV charging to start at midnight; a typical 30 kWh charging session at 3 cents per kWh costs 90 cents versus $3 or more if charged during the day. Fourth, opt into the price-ceiling protection for $0.50 or $1.00 per kWh; the small premium is worth the protection during the rare but real extreme-weather events. Fifth, sign up for the price-alert text service so you get next-day warnings about forecast peak prices and can plan accordingly.

Sources and further reading

FAQ

What is ComEd Hourly Pricing?

ComEd Hourly Pricing is a residential rate option where the supply charge changes every hour, tracking the PJM wholesale market real-time locational marginal price (LMP). On most hours of most days, hourly prices are well below the standard Fixed Price tariff; on grid-stress hours (summer afternoons during heat waves, the 2014 polar vortex morning) prices can spike to several dollars per kWh for a few hours.

Who saves money on Hourly Pricing?

Households that can shift load away from grid-stress hours (run laundry / dishwasher / EV charging during the lowest-price overnight hours, pre-cool the home before summer afternoons) typically save 10 to 30 percent versus the Fixed Price tariff. Households that cannot shift load and that have heavy AC use during summer afternoons can pay more on Hourly Pricing than on Fixed Price. The Citizens Utility Board operates an opt-in tool that models a household's last 12 months on each plan; it is the right way to decide.

What happened during the 2014 polar vortex?

During the January 2014 polar vortex, PJM wholesale prices spiked to over $2 per kWh on the morning of January 6 for about 4 hours as the gas system struggled to supply both heating and generation. ComEd Hourly Pricing customers saw bills several hundred dollars higher than usual for that week. The program now includes price-alert texts and the option to set a price ceiling above which the program switches to wholesale-cost recovery. The worst-case scenario is still real but better managed than in 2014.

Can I switch back to Fixed Price?

Yes, any time. ComEd allows opt-out from Hourly Pricing with one billing-cycle notice. There is no penalty or fee. The switch is processed by the next bill. Some households use Hourly Pricing in the summer-heavy months and switch to Fixed Price in winter; that is allowed but the constant re-enrollment is a small administrative hassle.

How does Hourly Pricing compare to a municipal aggregation?

Many Chicago-area suburbs run municipal aggregation programs that buy supply on behalf of all residents at a negotiated fixed rate, typically a few percent below ComEd's default Fixed Price. Aggregation is a one-rate-fits-all approach; Hourly Pricing is a variable-rate option that rewards active load-shifting. For households that already participate in their municipal aggregation, the question is whether the modest savings from switching to Hourly Pricing justify the variability; for households in municipalities without aggregation, Hourly Pricing is the main alternative to ComEd's higher default Fixed Price.

What is the day-ahead vs real-time price difference?

PJM publishes a day-ahead price (the forecast price for each hour of the next day, set by auction the prior afternoon) and a real-time price (the actual settlement price for each 5-minute interval, averaged hourly). ComEd Hourly Pricing customers are billed on the real-time price, but ComEd publishes the day-ahead price for the next day so customers can plan load-shifting. The two prices are usually within 10 percent of each other; large divergences happen during unexpected weather or generation outages.

Is there a price ceiling protection?

Yes. Customers can opt into a price-ceiling protection that caps the hourly price at a set level (typically $0.50 or $1.00 per kWh) during extreme grid-stress events. The cap is funded by a small premium on all hours, so participating in the cap reduces the cap-event downside but slightly reduces the program's overall savings during normal months. For risk-averse households this is worth the trade-off.

Disclaimer. ComEd Hourly Pricing rates change hour by hour and the figures cited are typical ranges, not guaranteed prices. Worst-case grid-stress events (polar vortex, generation outage during heat wave) can produce hourly prices well above any historical range. Independent resource; not affiliated with ComEd, Exelon or PJM.