ComEd Takes Steps to Implement Approved Expansion of Energy Efficiency Programs

Rhea-AI Summary

ComEd has requested $50 million from the Illinois Commerce Commission to enhance energy efficiency programs and support the Climate and Equitable Jobs Act (CEJA). If approved, this would increase residential bills by approximately 30 cents starting in January 2023. ComEd's initiatives have saved customers $6.4 billion since 2008. New measures will enable customers to electrify vehicles and heating systems, while dedicated funding of $10 million annually will assist low-income customers. CEJA aims to reduce carbon emissions and improve energy efficiency.

Positive

• Requested funding of $50 million to enhance energy efficiency programs.
• Customers saved over $6.4 billion since 2008 due to energy efficiency initiatives.
• New programs for electrification could further increase energy savings.
• Plans to dedicate $10 million annually to assist low-income customers.

Negative

• If approved, a $0.30 increase in average monthly residential customer bills starting January 2023.

State’s new energy law creates more customer savings, including through electrification

CHICAGO--(BUSINESS WIRE)-- ComEd filed on Wednesday a request with the Illinois Commerce Commission (ICC), which regulates the state’s public utilities, seeking cost recovery of $50 million that would support expanded programs to help customers reduce their energy usage and bills and contribute to a cleaner environment. The cost increase would support the Climate and Equitable Jobs Act (CEJA), the state’s new energy law, and ComEd’s ICC-approved four-year energy efficiency plan, which significantly increases funding for programs benefitting low-income customers.

“ComEd energy efficiency programs have only grown more effective in helping customers of all kinds reduce their energy bills and consumption, which also helps us reduce dependence on fossil fuels,” said Gil Quiniones, CEO, ComEd. “Customers now can save as much energy in five years’ time what used to take them a decade. And the cost to customers is still far less than what it was under the energy efficiency program prior to 2017. Thanks to CEJA, customers have more savings opportunities than ever.”

If approved, the request would add about 30 cents to ComEd’s average monthly residential customer bill beginning in January 2023. ComEd customers have saved more than $6.4 billion on their bills as a result of the energy efficiency program that ComEd launched in 2008, with nearly 460,000 families and businesses participating in 2021.

For the first time, ComEd’s programs include measures by residential and commercial customers to electrify vehicles or processes that would otherwise require fossil fuels. CEJA also allows utilities to fund solutions that enable business, public sector and residential customers to electrify space heating, water heating, cooling, drying, cooking, and industrial end uses that reduce energy consumption. ComEd will launch pilot projects this year, including an offering for income-eligible (IE) customers to fully electrify their homes with HVAC systems, water heating, appliances, and necessary electrical upgrades. ComEd will increase electrification opportunities over the course of four years and plans to spend an average of $10 million annually on solutions for IE customers, who earn at or below 80 percent of average area income.

“CEJA is widely recognized throughout Illinois and beyond as ambitious clean energy legislation, and the ComEd energy efficiency programs that it supports will contribute significantly to reducing carbon emissions,” said Stacey Paradis, executive director of the Midwest Energy Efficiency Association. “In Illinois, energy efficiency is a key component to achieving climate targets while reducing household costs, decreasing emissions and improving indoor air quality and resiliency.”

Last year, more than 15,000 ComEd customers took advantage of ComEd’s free home energy assessment, which includes a customized report and free installation of energy-saving products, such as LED bulbs, advanced power strips, low-flow showerheads, hot water pipe insulation, bathroom and kitchen sink aerators, and discounted smart thermostats.

In coordination with the local natural gas utilities, ComEd also offers customers rebates for installing high-efficiency equipment, including air conditioning systems and weatherization. Business and public sector customers can take advantage of a wide range of EE incentives and services, including free facility assessments and larger incentives are available for customers in ComEd’s most in-need communities.

CEJA also encourages diverse businesses and service providers to become involved in delivering ComEd energy efficiency programs, which ComEd will pursue through a new Market Development Initiative that will be funded at a level of $4 million annually over four years.

To learn more about ComEd energy efficiency visit: https://www.comed.com/WaysToSave

ComEd customers experiencing difficulty paying their electric bill are encouraged to call ComEd at 1-800-334-7661 (1-800-EDISON-1). Information is also available at ComEd.com/PaymentAssistance.

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/20220526005691/en/

ComEd Media Relations

312-394-3500

Source: ComEd

FAQ

What is ComEd's recent request to the Illinois Commerce Commission?

ComEd has requested $50 million to support expanded energy efficiency programs under the Climate and Equitable Jobs Act.

How much will ComEd customers' bills increase if the request is approved?

Customers' bills will increase by approximately 30 cents per month starting in January 2023.

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

ComEd's energy efficiency programs have saved customers over $6.4 billion since their launch in 2008.

What new initiatives does the Climate and Equitable Jobs Act support?

The Act supports electrification measures for vehicles and home heating systems to reduce reliance on fossil fuels.

How much will ComEd spend annually to assist low-income customers?

ComEd plans to spend an average of $10 million annually to assist low-income customers with electrification solutions.