ComEd Invests $893 Million with Diverse Suppliers in 2021

Rhea-AI Summary

ComEd achieved $893 million in diverse supplier spending in 2021, representing 42% of its total procurement. This brings its total spend on diverse suppliers to $6.4 billion since 2012, with $641 million spent locally in Illinois. ComEd collaborates with 662 diversity-certified suppliers and emphasizes support through the Clean Energy Act, enhancing opportunities for diverse suppliers in energy efficiency. The report highlights partnerships with notable companies and showcases the growing impact on local economies, contributing $11.8 billion to Illinois GDP from diverse supplier spending between 2017 and 2020.

Positive

• Achieved $893 million in diverse supplier spending in 2021, 42% of total procurement.
• Total diverse supplier spend increased to $6.4 billion since 2012.
• Spent $641 million or 71% of diverse spend locally in Illinois.
• Partnered with 662 diversity-certified suppliers, including 153 new ones.
• Growing energy efficiency sector expected to enhance opportunities for diverse suppliers.

Negative

• None.

10-year diverse supplier spend reaches $6.4 billion

CHICAGO--(BUSINESS WIRE)-- ComEd spent $893 million with businesses owned by women, people of color and veterans in 2021, or 42% of its total supply chain spend, bringing its diverse supplier spend since 2012 to $6.4 billion. Maintaining its focus on investing locally, ComEd spent $641 million, or more than 71% of its total diverse spend last year, with Illinois-based suppliers, as detailed in the company’s annual report to the Illinois Commerce Commission, which regulates the state’s public utilities.

“Hundreds of diverse suppliers play critical roles on our power grid and throughout our company, and the transition to clean energy will create even more opportunities for them to grow and make a positive impact within their communities,” said Gil Quiniones, CEO, ComEd. “Investing in businesses owned by people of color, women and veterans is one of our greatest opportunities to build equity throughout our service territory.”

ComEd partners with 662 diversity-certified suppliers, including 153 added last year, and they work throughout the company in utility construction, engineering, and materials, among others. A growing sector for diverse suppliers is energy efficiency, which is expected to accelerate as a result of the Climate and Equitable Jobs Act, which increases funding for expanded offerings with an emphasis on income eligible customers. To take full advantage of the opportunity, ComEd is partnering with diverse supplier Walker-Miller Energy Services, an energy efficiency specialist, led by CEO Carla Walker-Miller. It will focus on supplier and customer engagement.

“Because building energy efficiency is key to helping fight climate change and facilitating the necessary decarbonization of our country, the growth opportunities in energy efficiency are endless,” said Walker-Miller, who has 30 years of energy industry experience. “ComEd’s energy efficiency team is empowered and expected to identify, engage and develop diverse suppliers, and it has empowered us to do the same,” said Walker-Miller. “We are also helping ComEd reach economically distressed communities to reduce customers’ energy and water consumption.”

ComEd’s report profiles Milhouse, Inc., a Chicago-based African American-owned engineering and construction company led by CEO Wilbur Milhouse. It plays a key role in ComEd’s Voltage Optimization program, which enables ComEd to deliver power with enhanced precision, helping customers to reduce their energy consumption by up to 2 percent annually.

The report also highlights ComEd’s work in the growing data center sector where it’s creating opportunities for diversity-certified suppliers, such as Environmental Design International, a woman-owned company specializing in environmental consulting and civil engineering; McKissack & McKissack, the oldest minority-owned architecture and construction company in the United States; and Meade Electric, a leader in diversity advocacy with hundreds of active diversity-certified supplier relationships.

Illinois utility companies’ diverse supplier spend contributed $11.8 billion to the Illinois GDP from 2017-2020, with $4 billion in purchases from Illinois-based diverse businesses, according to the

Illinois Utilities Business Diversity Council (IUBDC), which was formed in 2015 to help utilities establish and share best practices for diverse supplier participation and development. Members include Ameren Illinois, Aqua, ComEd, Illinois American Water, Nicor Gas, North Shore Gas, and Peoples Gas.

ComEd’s 2021 Supplier Diversity report: https://www.comed.com/SiteCollectionDocuments/AboutUs/338828.pdf

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/20220524005958/en/

ComEd Media Relations

312-394-3500

Source: ComEd

FAQ

How much did ComEd spend on diverse suppliers in 2021?

ComEd spent $893 million on diverse suppliers in 2021.

What is the total diverse supplier spend for ComEd since 2012?

The total diverse supplier spend for ComEd since 2012 is $6.4 billion.

What percentage of ComEd's procurement in 2021 was from diverse suppliers?

In 2021, 42% of ComEd's total procurement was from diverse suppliers.

How much did ComEd spend locally in Illinois on diverse suppliers?

ComEd spent $641 million locally in Illinois on diverse suppliers.

What impact did the diverse supplier spending have on the Illinois GDP?

Diverse supplier spending contributed $11.8 billion to the Illinois GDP from 2017 to 2020.