ComEd announces lower electric rates

ComEd has announced it will lower electric rates in June to reflect a dramatic drop in the cost of electricity.

ComEd executive vice president Anne Pramaggiore said Friday the economic downturn has reduced demand, resulting in prices for electricity to fall.

ComEd estimates a 7.5 percent, or $6.36, decrease in the average residential customer's monthly bill. The lower rates will affect both residential and small business customers.

The decrease comes as the state's new power purchasing system goes into effect.

ComEd provides service to about 3.8 million customers across northern Illinois.