ComEd Files Annual Delivery Update for Year of Record Reliability
April 13 2017 - 12:20PM
Business Wire
Capital Investments Result in Rising Customer
Satisfaction
ComEd today filed its annual delivery service rate update with
the Illinois Commerce Commission (ICC). It reflects capital
investments authorized by the $2.6 billion Energy Infrastructure
Modernization Act (EIMA), or Smart Grid Law, to modernize
Illinois’ energy infrastructure. ComEd’s 2016 investments –
including $621 million for Smart Grid-related work – have resulted
in record reliability for its customers with a 44-percent reduction
in the frequency of outages and “Best in Class” distinction for
performance among peer utilities nationally.
ComEd is requesting a rate increase of approximately $96 million
– about $1 per month for the average residential customer beginning
in 2018 – to cover actual costs in 2016, one of the peak investment
years of the smart grid program, and obligations for 2017. Launched
in 2012, the smart grid program is delivering on budget and ahead
of schedule. Major grid infrastructure initiatives that are focused
on improving reliability will finish on schedule in June.
Installation of nearly 4 million smart meters will be completed by
the end of 2018, three years ahead of the original schedule.
Additional distribution system improvements will continue into
2021, including but not limited to substation digital upgrades to
enhance visibility onto the system and prevent potential problems
from occurring, and investments in physical and cyber-security.
“The smart grid program is delivering, as promised, for our
customers and the Illinois economy,” said Anne Pramaggiore,
president and CEO, ComEd. “From best-on-record reliability to
award-winning programs that save energy and money and highest
customer satisfaction results in our history -- the investments to
modernize our energy delivery system are working and producing
tangible benefits and remarkable results.”
Through the on-time, on-budget execution of the smart grid
investment program, ComEd customers’ bills remain stable. The
average residential customer bill in 2011 was $81; in January of
this year it was $80 and the 2017 formula rate update request would
add $1, effective in January of 2018. Adjusted for inflation,
ComEd average residential rates in 2016 were 25 percent less than
in 1995 and they’re 17 percent below the average rates in the 10
largest American cities.
“We now have a stronger and smarter grid that provides a firm
foundation for the next phase of energy reinvention that will
support renewables like solar and wind, expand energy efficiency
and provide better and smarter energy products and services that
will add even more value to our customers and communities,” said
Pramaggiore.
New Money-Saving Opportunities
Smart meters have been installed in more than 3 million homes
and businesses in northern Illinois, and new smart
meter-enabled programs are creating savings opportunities for ComEd
customers. Peak Time Savings program participants are earning
financial incentives by reducing energy usage during just a few
peak demand hours. More than 166,000 customers have earned $1.2
million in bill credits and more than 50,000 customers have
registered to receive High-Usage Alerts via text, phone, or email
to be informed if their energy use is trending higher than
normal.
ComEd’s energy efficiency program, which is expected to expand
significantly as a result of the Future Energy Jobs Act enacted
last year, has saved customers more than 21.5 million megawatt
hours of energy – enough to power more than 2.3 million homes for a
year – and created savings for customers of $2.3 billion on
electric bills.
The Smart Grid Law, which was enacted by the Illinois General
Assembly in 2011, established a performance-based formula
ratemaking model that holds utilities accountable for achieving a
broad range of metrics. The annual filing reflects the previous
year’s actual expenses and the current year’s projected annual
investments. These costs and investments will be reviewed by the
ICC and other stakeholders over the next eight months and the ICC
will issue its final decision on the request in December.
For more information about the smart grid program and results
see the 2017 Smart Grid Capstone Report.
Commonwealth Edison Company (ComEd) is a unit of Chicago-based
Exelon Corporation (NYSE: EXC), the nation’s leading competitive
energy provider, with approximately 10 million customers. ComEd
provides service to approximately 3.9 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 and YouTube.
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ComEd Media Relations(312) 394-3500
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