ICC Approves Reduction to Energy Efficiency Charges for ComEd Customers in 2017
April 07 2017 - 4:13PM
Business Wire
Future Energy Jobs Act creating immediate
savings of more than $2.00 per month this year for ComEd
residential customers, with expansion of energy savings options to
begin in January 2018
The Illinois Commerce Commission (ICC) today approved the first
major step toward expanding energy efficiency (EE) programs in
Illinois under the Future Energy Jobs Act (FEJA), setting the stage
to save residential customers more than $2.00 per month over the
course of 2017.
FEJA, energy legislation that passed the Illinois General
Assembly with broad bipartisan support and was signed into law by
Governor Rauner last year, helps to pivot Illinois to the new clean
economy by growing renewable energy resources and significantly
expanding energy efficiency programs that help customers save
energy and money.
“The Future Energy Jobs Act strengthens Illinois’ economy by
significantly expanding clean energy choices for our customers,”
said ComEd Senior Vice President of Customer Operations Val Jensen.
“Today’s approval is an exciting first step toward aligning utility
and customer interests toward less energy use, changing the utility
business model so that ComEd can invest in energy efficiency as a
service.”
ComEd will now begin transitioning to a new system and way of
funding efficiency programs. Here is what’s ahead for the energy
efficiency charge on customers’ bills in 2017, pending ICC approval
of additional filings related to the transition:
- From May through September, customers
will see the energy efficiency charge on their bills zero out – a
change from about $2.00/month for the average residential customer
today.
- Around October, customers can expect a
one-time refund for the retiring programs.
- In November and December, the EE charge
on customer bills will level out to an amount significantly less
than the prior $2.00/month average.
FEJA will increase funding for EE from $250 million up to $400
million per year by 2030, creating more than $4 billion in consumer
savings and reducing the CO2 by an amount equivalent to removing 18
million cars from the road. New, expanded energy efficiency
programs will begin in January 2018. Charges for the new programs
will begin to appear on customer bills at that time. While the
amount of that charge is not yet known, it is expected to be
significantly less than what customers pay today. The reason for
the decrease is due to new way of accounting for energy efficiency
costs, which allows ComEd to spread the costs over time, rather
than charging for them all upfront. This new accounting method will
enable ComEd to provide more energy efficiency options to
customers, helping them achieve even greater financial and
environmental benefits.
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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