ComEd Urges Customers to Act Now and Use Assistance and Energy Management Programs to Manage Electric Bills

Rhea-AI Summary

ComEd, a unit of Exelon (NASDAQ: EXC), is urging customers to utilize available assistance and energy management programs to manage their electric bills as warmer weather approaches. The company has launched a new information website at ComEd.com/BillSupport to help customers navigate rising energy costs.

In 2024, ComEd has already helped connect approximately 74,000 customers to $26 million in bill-assistance options. This follows a successful 2023, where over 229,000 eligible customers received more than $133 million in financial assistance and support options - the highest since the pandemic.

Available support includes LIHEAP grants, 12-month payment arrangements, budget billing, deposit waivers, and energy-efficiency programs. The company has also conducted Powering Lives Resource Fairs across northern Illinois, successfully connecting more than 1,600 families to various support services.

Positive

• Strong customer support program with $133 million in assistance provided in 2023
• Expanding assistance reach with 74,000 customers helped in early 2024
• Comprehensive financial assistance options including grants and payment plans
• Large customer base of 10.5 million customers across operations

Negative

• Rising energy costs affecting customer base
• Increasing number of customers requiring financial assistance

More than $133 million in financial assistance and other support options secured by customers in 2024; with similar support available now

CHICAGO--(BUSINESS WIRE)-- As residents transition from winter to the warmer weather months, a transition that sees an increase in the use of air-conditioning and other recreational equipment, ComEd says customers should take action now to connect with bill-assistance and energy-management options to help manage their future energy needs.

To help customers connect with solutions to manage rising energy costs, ComEd launched a new information website at ComEd.com/BillSupport.

“ComEd’s commitment to ensuring access to safe and reliable electricity means making investments and providing support options that will keep the lights on.” said Melissa Washington, Senior Vice President of Customer Operations and Strategic Initiatives at ComEd. “When economic conditions create hardships for families and businesses, ComEd will work to ensure there is easy access to these options and that they continue to meet customers’ changing needs.”

To help customers deal with rising energy costs, ComEd can help connect customers to a variety of bill-assistance options, including grants and payment arrangements. Last year alone, ComEd connected more than 229,000 eligible customers to over $133 million in financial assistance and other support options, which is the most support ComEd has provided since the pandemic. Through February of this year, ComEd has helped connect approximately 74,000 customers to $26 million in various bill-assistance options.

To help administer bill-support options, such as grants through the Low-Income Home Energy Assistance Program (LIHEAP), ComEd works with several community and intake agencies like the Community and Economic Development Association of Cook County, Inc. (CEDA).

“CEDA is dedicated to ensuring that Cook County residents have access to utility bill assistance before they reach a crisis point. With rising costs and economic challenges creating hardships for many families, we encourage households to apply for LIHEAP now—don’t wait until you receive a disconnection notice,” said Latoya Butler, CEDA’s Vice President of Energy Services. “Applying early can help prevent service interruptions and provide peace of mind. However, if you’ve already received a disconnection notice, assistance may still be available. Our goal is to make the application process as simple and accessible as possible, so families can get the help they need when they need it. Visit CEDA at CEDAorg.net/Bills to apply online or find a Partner Intake Site.”

ComEd bill-assistance options

ComEd works with its community partners to connect customers to grants and other assistance programs. This includes ComEd’s nationally recognized Powering Lives Resource Fairs, which are collaborations with community organizations to identify and deliver services that local families need the most. Through nearly a half dozen fairs across northern Illinois in 2024, ComEd provided 1,600 families in underserved neighborhoods with education and tailored support services including bill-assistance options, workforce development opportunities, family care programs, and health screenings. ComEd successfully connected more than three-quarters of those families to financial assistance and other support options. Among these options are:

• LIHEAP provides a one-time grant, per program year, with no payback required, while funding remains available. To be eligible, household incomes cannot exceed 200 percent of the federal poverty income guidelines which, for a family of four, is $5,200 a month or $62,400 a year.
• Payment arrangements of up to 12 months for eligible residential customers with past-due balances. Make a down payment on the amount owed and pay the rest through installments in addition to your regular monthly bill.
• Budget billing, which provides a predictable monthly payment based on your electricity usage from the last 12 months.
• Deposit and late-payment charge waivers for one year to income-eligible customers, along with the return of any current deposit.
• High-usage alerts, which enable customers to receive alerts when their usage is trending higher than normal to help manage overall energy use, and energy-management tips to help customers manage energy use to save money now and on future energy bills.
• Energy-efficiency offerings, including award-winning services and incentives designed to help income-eligible residential customers reduce energy use now and in the long term.

ComEd is a unit of Chicago-based Exelon Corporation (NASDAQ: EXC), a Fortune 200 energy company serving more than 10.5 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, Instagram, LinkedIn, X, and YouTube.

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ComEd Media Relations

312-394-3500

Source: ComEd

FAQ

How much financial assistance did ComEd provide to customers in 2023?

ComEd provided over $133 million in financial assistance and support options to more than 229,000 eligible customers in 2023, marking their highest support level since the pandemic.

What are the income requirements for ComEd's LIHEAP assistance program?

To be eligible for LIHEAP, household incomes cannot exceed 200% of federal poverty guidelines, which is $5,200 monthly or $62,400 annually for a family of four.

How many customers has ComEd assisted with bill support in 2024 so far?

Through February 2024, ComEd has connected approximately 74,000 customers to $26 million in various bill-assistance options.

What payment arrangement options does ComEd offer to customers?

ComEd offers eligible residential customers payment arrangements of up to 12 months for past-due balances, requiring a down payment and monthly installments alongside regular bills.

How many customers does Exelon (EXC) serve across its operations?

Exelon serves more than 10.5 million electricity and natural gas customers, the largest customer base in the U.S.