Monday, July 27, 2009

Blame it on Foreclosure

Foreclosure is a four letter word. Not only to people losing their homes to foreclosure, but also to big giant power companies like Commonwealth Edison.

ComEd provides service to approximately 3.8 million customers in Northern Illinois and
according to Crain's Chicago Business, this year for the first time in 56 years, they are losing customers.

Why? What's the explanation? Foreclosure. Yep. At least that's ComEd's theory.

ComEd loses customers for the first time in 56 years.
ComEd CEO Frank Clark said Friday that the number of the utility’s customers has fallen by 17,000 this year. ComEd has 3.8 million customers in its northern Illinois service territory.

“This is the first time we’ve ever seen it,” he said during an analysts’ call for ComEd parent Exelon Corp. “It is an unusual event.”

He said he wasn’t sure what caused the falloff, theorizing that people losing their homes to foreclosure are moving in with friends or family.

I suppose it makes sense. People lose their homes to foreclosure, then move in with family and therefore cancel their ComEd service. Can ComEd blame us? No. Because we were customers of the Los Angeles Department of Water and Power. And now we're not. What are their numbers this year? I wonder.


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