ComEd Energy Efficiency Program Exceeds 2022 Goals of Saving Customers 11-million MWhs of Electricity

Electricity reduction equivalent to customers saving nearly $1.3 billion on electric bills

CHICAGO--(BUSINESS WIRE)-- In 2022, the ComEd Energy Efficiency Program helped customers save more than 11 million megawatt hours (MWhs) of electricity. This performance exceeds the goal set forth by state law and is based on annual savings achieved from all energy-efficiency measures installed in a given year since 2012 that are still operational and producing energy savings. By ComEd’s calculations, this equates to customers saving nearly $1.3 billion on their electric bills last year.

The energy-saving results come from the latest independent evaluation of the ComEd program compiled by Guidehouse, a global provider of consulting and managed services. The annual evaluation also showed that last year’s introduction of beneficial electrification measures, enabled by the Climate and Equitable Jobs Act (CEJA), helped customers save more than 12,000 MWhs of energy, which ComEd calculates to be nearly $1.4 million in customer bill savings.

“ComEd is committed to helping customers manage their energy use and bills, and this latest evaluation illustrates that our energy-efficiency offerings directly translate into savings for participating customers,” said Erica Borggren, vice president of customer solutions for ComEd. “As technologies and energy needs change and grow, we will continue to introduce new offerings and promote existing programs that give customers the power to manage their energy use and save money.”

The ComEd Energy Efficiency Program, which is funded in compliance with state law, helps families and businesses save money and use energy more wisely through a variety of services, incentives and rebates. In 2022, as a result of CEJA, the ComEd program rolled out electrification measures that support the replacement of technologies that use fossil fuels, such as coal, oil and natural gas.

In 2022, the ComEd Energy Efficiency program:

• Provided ComEd residential and business customers with more than $250 million in incentives through rebates and discounts on energy-efficiency measures and projects.
• Directly installed free energy-efficiency products to more than 33,000 homeowners and tenants, including nearly 19,000 income-eligible customers, through home energy assessments.
• Saved business customers more than 896,000 MWhs of electricity, or nearly $80 million in bill savings, with an estimated total savings of 10.3 million MWh realized over the expected life those measures, or a total of more than $915 million.
• Saved residential customers more than 827,000 MWhs of electricity, or more than $117 million in bill savings, with an estimated total savings of 8.2 million MWh realized over the expected life those measures, or a total of nearly $1.2 billion.
• Through energy-efficiency offerings exclusively for income-eligible customers, over 161,000 of these customers achieved energy savings of more than 400,000 MWhs which ComEd calculates to be nearly $57 million in annual bill savings. These customers are also expected to realize estimated total savings of 4.5 million MWhs over the life of these measures, or a total of more than $640 million.

“Energy efficiency continues to serve as the least cost resource that directly supports customer bill savings, reduced stress on the grid, and a reduction in the carbon footprint of our buildings,” said John Taylor, executive director at Consortium for Energy Efficiency, which is made up of efficiency program administrators from across United States and Canada who develop consensus-based strategies to accelerate adoption of cutting-edge energy efficiency, load management, and decarbonization solutions. “Customers play a critical role in our clean energy transition, and it’s exciting to see the magnitude of impact that ComEd and their customers have achieved.”

Since 2008, the award-winning ComEd Energy Efficiency Program has saved customers more than $7.6 billion on their electric bills. The program also helped customers save more than 70 million net megawatt-hours of electricity, which is the annual equivalent to:

• reducing nearly 60 billion pounds of carbon emissions from the atmosphere,
• removing nearly 6 million cars from the road,
• planting more than 33 million acres of trees and
• powering more than 8 million ComEd customers’ homes.

The program is one of several efforts implemented by ComEd over the years that have helped the energy company maintain an average monthly customer bill of $104, which is in the lowest 25 percent compared to the average monthly bills in other states. ComEd's rates are also below the average of the top U.S. metropolitan areas based on population.

For more information about this and other energy efficiency offerings, homeowners can visit ComEd.com/HomeSavings. Business customers can visit ComEd.com/BizSavings.

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.

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Source: ComEd