ComEd Refiles Multi-Year Grid Plan to Advance Region’s Economic, Climate and Equity Goals
March 14 2024 - 1:57PM
Business Wire
Illinois Commerce Commission Expected to Rule
on New Plan by End of 2024
As directed by the Illinois Commerce Commission (ICC), ComEd
today submitted to the ICC a refiled multi-year grid plan that will
increase access to the benefits of clean and renewable energy in
alignment with the Climate and Equitable Jobs Act (CEJA). In
December of 2023, the ICC rejected ComEd’s original multi-year grid
plan, requiring ComEd to file a revised grid plan in 90 days, and
asking the company for a plan that includes additional focus on
affordability, cost effectiveness and benefits to equity investment
eligible communities (EIECs).
“We heard the Commissioners’ concerns and have worked diligently
these past three months to create a plan that is responsive to
their feedback while positioning ComEd to help the state achieve
its clean energy and equity goals,” said Gil Quiniones, ComEd
President and CEO. “It also reflects a deep collaboration with
stakeholders, whose engagement and partnership helped us to
strengthen the plan, creating a pathway for us to support CEJA’s
vision at a pace that ensures rates remain affordable for all
customers.”
To assemble this new multi-year grid plan, building upon earlier
stakeholder and community engagement efforts, ComEd re-engaged with
stakeholders to better address the issues outlined by the
Commission, hosting two public meetings and a series of six
stakeholder workshops in January and February of this year, as well
as numerous technical and direct discussions.
Based on this engagement, and in response to feedback from the
Commission, ComEd has made a number of changes to the original grid
plan, including:
- A reduction in overall investment levels and bill impacts to
better ensure affordability for customers;
- New affordability analysis that demonstrates ComEd’s new rates
under the proposed multi-year grid plan are affordable, prudent and
reasonable; and
- Enhanced explanation of the benefit of grid investments to
ComEd customers, including additional detail on cost
effectiveness.
As electricity plays a larger role in the daily lives of
customers and communities, the need to preserve ComEd’s
nation-leading reliability is critical. For the second year in a
row, it was recognized by PA Consulting, which named ComEd the most
reliable utility in the U.S in 2023. ComEd also achieved a historic
high 2nd place ranking within the J.D. Power Midwest Large Segment
for residential customer satisfaction.
Following an open process in which the ICC, other public
agencies, and consumer, environmental and other groups will review
the plan and costs, the ICC will issue a decision in December 2024.
State regulators must find all costs prudent and reasonable before
including them in rates.
ComEd refiled multi-year grid plan Executive Summary and Plan
Chapters available here.
ComEd is a unit of Chicago-based Exelon Corporation (NASDAQ:
EXC), a Fortune 250 energy company with approximately 10 million
electricity and natural gas 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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