ComEd Refiles Multi-Year Grid Plan to Advance Region’s Economic, Climate and Equity Goals

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).

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Provider: 
Business Wire, Inc.Business Wire, Inc.
Retrieved on: 
木曜日, 3月 14, 2024
Information
Tags: 
Utilities, Environment, Sustainability, Alternative Energy, Green Technology, Energy, Climate Change, EXC, Electricity, ICC, Partnership, CEJA, Climate, Commission, PA Consulting Group, Illinois Commerce Commission, Exelon, Commonwealth, Commonwealth Edison, Renewable energy
Geotags: 
UNITED STATES, NORTH AMERICA, ILLINOIS
Stock Symbol: 
NASDAQ:EXC
概要
Key Points: 
  • 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 .
  • 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.


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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