Just got meter test results back from ComEd for a client in Chicago. The meter tested 1.8% fast over the past 18 months. ComEd is offering a credit of $4,200 but it seems low considering our monthly bills average $15,000. How do you calculate the proper refund amount for a fast meter? Should we accept their offer or push for more?
Meter Testing Results - Commonwealth Edison
Don't accept ComEd's first offer without verification. For a meter running 1.8% fast, you should get credit for the overcharge period. Calculate 1.8% of all charges (including demand, energy, and applicable taxes) for the full period. At $15K monthly average, 1.8% would be $270/month. Over 18 months that's $4,860 minimum. Their $4,200 offer might not include all charges or the full period. Ask for their detailed calculation.