Future Energy Jobs Act (FEJA) Costs Expected to Fall Below Mandated Caps
June 30 2017 - 4:28PM
Business Wire
ComEd files “Rate Impact Reports” with Illinois
Commerce Commission
ComEd filed today with the Illinois Commerce Commission (ICC)
the first set of annually required reports detailing anticipated
customer rate impacts of the Future Energy Jobs Act (FEJA). As a
part of FEJA, passed by the Illinois General Assembly and signed by
Governor Rauner in 2016, impact caps are in place to protect
customers from significant bill increases resulting from programs
authorized through the Act.
As detailed in the reports, the cost impact of FEJA is currently
projected to be well below the $0.25 monthly increase cap allowed
for residential customers and the 1.3% increase cap for
non-residential customers.
FEJA pivots Illinois to the new clean energy economy, saving and
creating thousands of clean jobs and providing job training for the
future workforce, while also creating significant consumer and
environmental benefits. This comprehensive, bipartisan legislation
jumpstarts renewables in Illinois, setting the stage to grow enough
solar and wind energy to power one million homes. It also nearly
doubles energy efficiency programs, creating more than $4 billion
in consumer savings and reducing the CO2 equivalent to removing 18
million cars from the road. Further, the Act contains significant
programs for low-income communities and extends ComEd’s customer
assistance programs through 2021.
Each year, as FEJA programs are implemented, ComEd is required
to file updated 10-year projections for the rolling average monthly
impact to customer bills, and report on the prior year’s
performance. Failure to meet keep customer impacts below the
prescribed caps will result in mitigation efforts, as determined by
the ICC.
“We are fortunate that our elected leaders had the vision to
craft legislation that delivers such economic and environmental
benefits to our customers while preserving competitive rates,” said
Fidel Marquez, Senior Vice President Governmental and External
Affairs, ComEd. “Today's filings demonstrate the care taken to
ensure that the FEJA benefits will be achieved reasonably, with
customer costs in mind.”
In a separate FEJA-related filing earlier this year, the ICC
approved a bill reduction, which included the temporary removal of
the energy efficiency charge, saving residential customers over
$2.00 per month through the end of the year.
The decrease related to FEJA provisions that customers are
projected to see builds on the historically low energy prices
Illinois has seen in the past 20 years since electricity industry
restructuring. Illinois residential electricity prices are 20
percent below the average of the 10 largest cities in America.
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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