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New Law Limits Exit Fees
By John Gregory - Illinois Radio Network
WBGZ Radio 7/24/15
back to Articles
A new law limits what alternative electricity suppliers can charge you for ending your contract early.
Residential customers will pay a maximum exit fee of $50, while the fee for businesses will be capped at $150.
Jim Chilsen, spokesman for the Citizens' Utility Board, says these fees have become a more common complaint about alternative suppliers, with one small business needing help avoiding a $894 charge.
Click here for summary
"This is good news for consumers," Chilsen said. "Time after time, we've seen consumers threatened with outrageous exit fees, and that's really bad for building a healthy power market in Illinois."
If you're a ComEd or Ameren customer, this isn't a concern, as those companies don't charge exit fees.
The law goes into effect immediately.
(Copyright WBGZ / www.AltonDailyNews.com )
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