ComEd Restores Power to 99 Percent of Customers Impacted by Winter Snow Storm
- ComEd has successfully restored power to 99 percent of affected customers, showcasing their commitment to service restoration.
- Investments in smart grid upgrades have led to significant improvements in reliability, avoiding over 19 million power outages and saving $3.3 billion in outage-related costs.
- Approximately 900 customers remain without power, indicating the ongoing impact of the severe snowstorms.
- Climate change has increased the frequency and intensity of severe weather, posing continued challenges for power restoration efforts.
Insights
The restoration of power by ComEd following a significant snowstorm in northern Illinois underlines the resilience and responsiveness of utility services. The swift action to restore power to 99 percent of affected customers is commendable and showcases the effectiveness of the grid's emergency response protocols. This rapid restoration effort likely mitigates the negative impact on ComEd's customer satisfaction and trust, which can have long-term positive effects on the company's reputation and, by extension, its stock valuation.
Investments in smart grid technology and infrastructure upgrades have proven beneficial, as evidenced by the avoidance of over 19 million power outages and a 70 percent improvement in reliability. Such advancements not only enhance service quality but also contribute to operational cost savings, as seen with the $3.3 billion in outage-related costs saved. These savings and improvements can lead to increased investor confidence in the utility's management and its long-term growth strategy.
ComEd's acknowledgment of climate change as a factor increasing the frequency and intensity of severe weather events highlights the growing importance of environmental considerations in the utility sector. The company's proactive measures, such as grid upgrades and tree trimming, demonstrate a commitment to sustainability and resilience planning. This approach aligns with broader industry trends where utilities are increasingly investing in measures to combat the effects of climate change on infrastructure.
Such strategic initiatives may positively influence investor perceptions, especially among those with an interest in environmentally responsible investments. Moreover, the company's focus on prioritizing repairs for critical services like hospitals and law enforcement reflects a socially responsible approach, which could enhance its corporate image and attract socially conscious investors.
From a risk management perspective, ComEd's response to the snowstorm-induced power outages illustrates an effective risk mitigation strategy. The quick restoration of services minimizes business interruption risks for commercial customers and reduces the likelihood of significant financial losses. Furthermore, the implementation of smart grid technology aids in real-time monitoring and rapid response, which is essential in minimizing the duration and impact of power outages.
The company's investment in infrastructure resilience is a critical factor in risk assessment for potential investors. A utility that demonstrates a strong track record in managing unforeseen events and mitigating their impact is generally seen as a lower-risk investment. This can be particularly appealing to investors seeking stability in their portfolio, especially in the face of increasing volatility due to climate change.
Remaining one percent expected to be restored by Saturday evening
Approximately 900 customers remain without power due to the storm as of 5:00 am while 1,700 ComEd and contractor utility workers continue to work around the clock to restore service to all remaining customers as quickly and safely as possible. ComEd expects that remaining customers will be restored by Saturday evening, January 13.
Climate change has increased the frequency and intensity of severe weather. ComEd has been investing in power grid upgrades and tree trimming to minimize the impact of storms. Since smart grid upgrades began in 2011, ComEd has avoided more than 19 million power outages—saving more than
ComEd prioritizes repairs that will bring back the greatest number of customers at once, and focuses on critical services, such as hospitals, senior centers, law enforcement and fire departments. Crews then move to restoration of individual outages.
The following tips and information encourage customers to stay safe following severe weather:
- If you encounter a downed power line, immediately call ComEd at 1-800-EDISON-1 (1-800-334-7661).
- Spanish-speaking customers should call 1-800-95-LUCES (1-800-955-8237).
- Never approach a downed power line. Always assume a power line is energized and extremely dangerous.
- Check on elderly and other family members and neighbors to ensure their safety and make alternate arrangements in the event of an outage.
Customers can sign up for Outage Alerts at ComEd.com/Alerts or text OUT to 26633 to report their outage and receive restoration information about when their power may be restored.
ComEd also offers a mobile app for iPhone® and Android® smart phones that gives customers the ability to report power outages and manage their accounts. In addition, customers can report outages through ComEd’s Facebook and Twitter pages.
ComEd is a unit of
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ComEd Media Relations
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Source: ComEd
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