ComEd Proposes Expansion of Initiatives to Help Low-Income Customers, Public Facilities and Businesses Save Energy and Money

Rhea-AI Summary

ComEd has submitted a $1.7 billion energy efficiency plan to the Illinois Commerce Commission for 2022-2025, aiming to enhance energy-saving programs for customers. The plan supports income-eligible customers, allocating over $113 million yearly to these initiatives, exceeding state requirements. It also focuses on electrification strategies with $10 million annually dedicated to income-eligible electrification measures. Since 2008, ComEd’s programs have reportedly saved customers over $6 billion on energy bills.

Positive

• Proposed $1.7 billion investment in energy efficiency programs for 2022-2025.
• Allocates over $113 million annually for income-eligible programs, exceeding state mandate.
• Targets $10 million yearly for income-eligible electrification measures.

Negative

• None.

Four-year plan invests approximately $1.7 billion in customer energy efficiency

CHICAGO--(BUSINESS WIRE)-- ComEd yesterday submitted to the Illinois Commerce Commission (ICC), which regulates the state’s utilities, a four-year, $1.7 billion plan to expand programs that help business, residential and public sector customers reduce energy use and save money. The plan incorporates feedback from local stakeholders and updates the energy efficiency plan the ICC approved in 2021 to reflect changes enabled by the state’s new clean energy law, which expands these programs, and allows energy efficiency goals to be partially met by electrification initiatives.

“ComEd fully supports the clean energy law’s focus on further expanding our work to help low-income customers save energy and lower their bills,” said Erica Borggren, vice president of customer solutions at ComEd. “We’re proud to propose, for the first time, to gradually incorporate electrification into our energy efficiency offerings to customers, with a focus on those who need these savings and health benefits the most.”

ComEd’s 2022-2025 energy efficiency plan is designed to help customers save energy and money, with a particular focus on programs and savings for customers and communities in need. Specifically, ComEd’s plan:

• Dedicates more than $113 million per year to income-eligible programs – nearly three times the required $40 million per year.
  • This funding will be spent on single-family and multifamily upgrades and affordable housing new construction, in addition to other programs for income-eligible customers.
• Targets $10 million per year to support income-eligible electrification measures – for example, heating and cooling, water heating and appliances – that will save customers money and improve their quality of life.
• Expands business and public sector programs to accommodate large public customers and private customers that do not opt out.

“Our goal is to see continual growth in energy efficiency investments, as these investments save individual customers energy and money but also provide important societal, environmental and health benefits to entire communities,” said Stacey Paradis, Executive Director of the Midwest Energy Efficiency Alliance. “We’ve been impressed with ComEd’s leadership having grown their energy efficiency program from its start in 2008 to their plans today to make what is the single largest energy efficiency investment in the Midwest. We are excited to see their focus on affordability and bringing energy efficiency programs and benefits to the people that most need it. We commend them on their industry-leading work and look forward to the continued growth of the ComEd Energy Efficiency Program.”

The ComEd Energy Efficiency Program is one of the largest programs in the nation, offering residents, businesses and public sector customers a variety of options that help them cut back on their energy use, which reduces energy bills and helps the environment. Since ComEd introduced its energy efficiency programs in 2008, customers have saved more than $6 billion on their energy bills.

For more information on the ComEd Energy Efficiency Program and to enroll, visit ComEd.com/HomeSavings for residential customers and ComEd.com/BizSavings for business customers.

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/20220302005901/en/

ComEd Media Relations

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Source: ComEd

FAQ

What is ComEd's new energy efficiency plan for 2022-2025?

ComEd proposed a $1.7 billion energy efficiency plan to enhance energy-saving programs.

How much funding is dedicated to income-eligible programs in ComEd's plan?

ComEd's plan allocates over $113 million per year for income-eligible programs.

What portion of ComEd's plan focuses on electrification?

The plan includes $10 million per year for income-eligible electrification measures.

How much have ComEd's energy efficiency programs saved customers since 2008?

ComEd's programs have saved customers more than $6 billion on their energy bills since 2008.

Who regulates ComEd's energy efficiency plan?

The Illinois Commerce Commission regulates ComEd's energy efficiency plan.