ComEd Delivers Record-High Reliable Service for Customers in First Three Quarters of 2022

Rhea-AI Summary

ComEd reports record reliability in electric service for 2022, achieving 82% better reliability since smart grid improvements began in 2011. The utility has prevented over 18.8 million outages, saving customers over $3 billion. With average residential rates 21% lower than major U.S. metro areas, ComEd's electricity costs are nearly the lowest relative to residents' income. The company facilitated 16 new projects, driving $3 billion in local investment and 4,700 jobs. Recognized among the top 20 energy providers nationally, ComEd continues to attract businesses with its dependable infrastructure.

Positive

• Achieved 82% better reliability since 2011 smart grid investments.
• Saved customers over $3 billion by preventing 18.8 million outages.
• Average residential rates are 21% lower than top 10 U.S. cities.
• Facilitated $3 billion in local investment and creation of 4,700 jobs.
• Recognized as a top 20 energy company among 3,300 providers.

Negative

• None.

CHICAGO--(BUSINESS WIRE)-- ComEd’s investments to improve the reliability and resiliency of the power grid in northern Illinois continue to pay off for customers, as the company in the first three quarters of 2022 delivered the most reliable electric service in its more than century-long history. Reliability is defined using industry-standard metrics to determine how often customers experience power outages and how long power outages last when they do occur.

Overall reliability for the first nine months of 2022 was 82 percent better than when ComEd began smart grid improvements in 2011. Since these investments began, ComEd and its more than 6,200 employees have helped customers avoid more than 18.8 million outages, saving more than $3 billion in outage-related costs. More than 3.6 million of ComEd’s more than 4 million customers have experienced, on average, less than one outage so far in 2022.

“It wasn’t that long ago that most ComEd customers expected power outages and considered them commonplace,” said ComEd President and COO Terence R. Donnelly. “Today the story is very different. Our investments in the grid are paying off as ComEd today offers some of the best reliability in the nation, ensuring ComEd customers have reliable and sustainable power when they need it the most.”

ComEd continues to deliver tremendous value for customers. In addition to providing industry-leading reliability, ComEd’s rates today are among the most competitive in the nation: Average residential rates are 21 percent lower than the top 10 U.S. metro areas, and average commercial rates are 13 percent lower than the top 20 U.S. metro areas. As a percentage of residents' median income, ComEd's residential electricity cost is nearly the lowest in the country.

ComEd’s reliable and resilient service also are helping to boost new investment and jobs for the region. Last year alone, ComEd helped launch 16 new commercial projects with commitments to invest $3 billion locally and create 4,700 new jobs. As a testament to companies’ confidence in ComEd’s reliable infrastructure, 2022 is on pace to deliver a significant level of regional investment, with major growth driven by data center, manufacturing, transportation and logistics industries, among others.

ComEd’s top performance on reliability was further underscored when it was recently recognized as a top 20 energy company by Site Selection magazine, a comparison with 3,300 utility providers nationally.

“Strong infrastructure is an essential component of company location decisions and ComEd’s commitment to reliable energy in Illinois provides an important resource in attracting businesses to the state,” said Intersect Illinois CEO Dan Seals.

“ComEd’s smart grid investments are paying off, with fewer outages, improved storm response time, and enhanced resilience to meet the evolving needs of our communities across northern Illinois,” said Palos Park Mayor John F. Mahoney, Chairman of the Metropolitan Mayors Caucus. “Municipalities are vested in a resilient grid as we work collaboratively to expand access to EVs and solar energy towards an inclusive clean energy future.”

ComEd is a unit of Chicago-based Exelon Corporation (NASDAQ: EXC), a Fortune 200 energy company with approximately 10 million electricity and natural gas customers – the largest number of customers in the U.S. ComEd powers the lives of more than 4 million customers across northern Illinois, or 70 percent of the state’s population. For more information visit ComEd.com and connect with the company on Facebook, Twitter, Instagram and YouTube

 

View source version on businesswire.com: https://www.businesswire.com/news/home/20221013005744/en/

ComEd Media Relations

312-394-3500

Source: ComEd

FAQ

What were ComEd's reliability improvements in 2022?

ComEd reported an 82% reliability improvement since 2011, delivering the most reliable electric service in its history.

How much did ComEd save customers in outage-related costs?

ComEd saved customers over $3 billion by preventing 18.8 million outages.

How competitive are ComEd's rates compared to other areas?

ComEd's average residential rates are 21% lower than the top 10 U.S. metro areas.

What impact did ComEd have on local job creation in 2022?

ComEd helped create 4,700 new jobs through 16 commercial projects with $3 billion in commitments.

How has ComEd been recognized in the energy sector?

ComEd was recognized as a top 20 energy company by Site Selection magazine, evaluating over 3,300 utility providers.