ComEd Reaches Highest Levels of Reliability as Severe Weather Events Challenge Power Grids

Rhea-AI Summary

ComEd, a unit of Exelon Corporation (NASDAQ: EXC), reported significant improvements in power reliability due to grid investments since 2011, resulting in a 68% increase in reliability and avoiding over 17 million outages. These upgrades have saved customers more than $3 billion in outage costs. ComEd’s competitive residential rates are 17% lower than top U.S. metros, contributing to economic development, including 16 new industrial projects and 4,700 jobs in 2021.

Positive

• 68% increase in overall reliability since 2011.
• Avoided over 17 million customer outages, saving $3 billion.
• Competitive residential rates 17% lower than top U.S. metros.
• Support for 16 new industrial projects representing 548 MW capacity, creating 4,700 jobs.

Negative

• None.

Investments have helped prevent more than 17 million customer outages since 2011

CHICAGO--(BUSINESS WIRE)-- ComEd in 2021 delivered some of its highest levels of year-over-year reliability as a result of power grid investments such as smart switches that reroute power around potential problem areas, new storm hardening and vegetation management solutions, and cable replacement. Since grid improvements began in 2011, overall reliability has improved 68 percent. ComEd has avoided more than 17 million outages for customers, saving more than $3 billion in outage costs.

Utilities must continue to invest in the power grid to address severe weather and rapid increases in renewable energy and electric vehicles. ComEd has proven itself as a national leader in the use of advanced technologies to benefit its customers and communities and ensure the region remains competitive.

“To meet the needs of our customers, ComEd continues to modernize the grid to deliver the reliable power that our customers and communities need to live, work and succeed in a 21st century economy,” said Terence Donnelly, president and chief operating officer of ComEd. “In the face of increasing and more intense weather events, our investments have enabled ComEd to reach new heights of reliability while laying the foundation for future technologies that expand renewables and support Illinois customers and communities as we transition to a clean energy economy.”

Grid investments have provided customers reliable power but have also paved the way for ComEd customers to realize the full potential of digital grid technology, providing access to more clean energy options like solar, wind and more. At the same time, ComEd’s rates today are among the most competitive in the nation: Average residential rates are 17 percent lower than the 10 top U.S. metro areas, and average commercial rates are 18 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.

“Investments we’re making in the grid are already helping us reduce the number and duration of customer interruptions,” said Donnelly. “As we invest in technology that brings more renewable energy to the grid, we can both reduce emissions while improving the resiliency of the system.”

In August 2021, the Intergovernmental Panel on Climate Change (IPCC) released a report that outlined the widespread, rapid and intensifying impacts of the climate crisis due to fossil-fuel emissions. The report called out the need for the electric grid to be more resilient because it is often the last line of defense for residents and businesses.

In addition to producing strong power reliability, Illinois’ competitive electricity supply market helped to attract significant business expansion across ComEd’s northern Illinois service territory. In 2021 alone, ComEd’s Economic Development Team helped support the launch of 16 new industrial projects representing 548 MW of new committed capacity-enough to power 155,000 homes. These new projects will collectively support 4,700 new jobs and $3 billion in investment for the region.

“Reliable and clean energy are great assets to Illinois and top priorities for companies making location decisions,” said Intersect Illinois CEO Dan Seals. “ComEd’s investment in infrastructure is key to bringing business to the state.”

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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ComEd Media Relations

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Source: ComEd

FAQ

What improvements has ComEd made to its power reliability in recent years?

Since 2011, ComEd has improved its power reliability by 68% through grid investments.

How much has ComEd saved its customers in outage costs?

ComEd has saved its customers over $3 billion in outage costs by avoiding more than 17 million outages.

How does ComEd's electricity rate compare to other U.S. metro areas?

ComEd's average residential rates are 17% lower than those in the top 10 U.S. metro areas.

What economic impact did ComEd have in 2021?

In 2021, ComEd supported 16 new industrial projects, contributing to 4,700 new jobs and $3 billion in investments.

What role does ComEd play in Illinois' clean energy transition?

ComEd invests in grid technology to support renewable energy integration and improve system resiliency.