SYS-CON MEDIA Authors: Liz McMillan, Carmen Gonzalez, Pat Romanski, Elizabeth White, Yeshim Deniz

News Feed Item

ComEd Files for $23 Million Decrease in Customer Electric Rates

ComEd’s annual formula rate update request for distribution or “delivery” of electricity calls for a decrease of $23 million compared to the approved rates in effect in January of this year.

The filing made today with the Illinois Commerce Commission (ICC) marks the eighth formula rate request since the Energy Infrastructure Modernization Act (EIMA) or “Smart Grid Law” was enacted by the Illinois General Assembly in 2011. It authorized investments of $2.6 billion to upgrade and modernize Illinois energy infrastructure, improve system reliability and empower customers to control energy consumption and costs.

Since 2012, ComEd customers have experienced a significant improvement in electric reliability as the frequency and duration of outages has been reduced by nearly 50 percent. From 2012 through 2017, there were more than 7.7 million avoided customer interruptions, including 1.5 million in 2017 due to investments in digital “smart switches” that automatically reroute power around potential problem areas. These avoided outages have resulted in $1.5 billion in societal savings.

While the smart grid investments and other major initiatives have created a total supply chain spend of almost $12 billion since 2011, and significantly improved performance, total ComEd customer bills remain stable. Ten years ago, as new rates took effect in September of 2008, the average residential customer bill was approximately $85; in January of this year it was approximately $86. Today’s filing would decrease the average residential electricity delivery bill by about $0.50, effective in January of next year. ComEd’s per kWh residential rates trend below the average price across the entire U.S., including nearly 14 percent below the top 20 U.S. cities and 19 percent below the top 10 U.S. cities by population as of June 2017.

“Today, we’re filing for a rate decrease – the third since the Smart Grid Law was passed in 2011,” said Anne Pramaggiore, president and CEO, ComEd. “This historic legislation, passed by the Illinois General Assembly, and overseen by the ICC, has been a success since its passage.

“Reliability has improved by nearly 50 percent and more than 4,000 full-time equivalent jobs were created,” she continued. “We’ve pumped nearly $12 billion of supply chain spend into the Illinois economy since 2012 and the average ComEd bill today is roughly equivalent to what it was 10 years ago.”

ComEd’s distribution rate request for 2019 covers actual costs for 2017 when the company completed major grid modernization upgrades focused on reliability improvement. It also includes investments for the current year. The installation of a total of 4 million smart meters is scheduled for completion in October, three years ahead of the original schedule. Also reflected in the filing are expansions for new customer data and distribution centers, continued system reliability programs and new technologies, such as Voltage Optimization, which enables more precise and efficient energy usage while improving power quality.

ComEd also submitted today its 2017 Performance Metrics report, a requirement established by the Smart Grid Law that holds ComEd accountable for meeting key outcomes, or face financial penalties for failure to do so. The report shows ComEd met goals in 10 of 10 categories, including improving system reliability, reducing estimated bills, reducing customer costs associated with unaccounted for energy consumption and theft, and increasing support for minority- and women-owned businesses. In 2017, ComEd’s diversity-certified supplier spend reached $711 million, an increase from 33 to 36 percent of its total supply chain spend.

From Smart Grid to Green Grid

ComEd is building upon the strength of its stronger, more reliable digital grid to move Illinois toward a clean, lean and resilient energy future, providing customers greater access to renewables and more energy efficiency programs and control over their energy costs. The Future Energy Jobs Act (FEJA) enacted in 2016 jumpstarts renewables in Illinois, setting the stage to grow enough solar and wind energy to power one million homes. It increases energy efficiency programs, creating more than $7 billion in consumer savings and reducing the CO2 equivalent of removing 18 million cars from the road.

ComEd is proceeding with the construction of a microgrid demonstration project in the South Side neighborhood of Bronzeville. The project, which was approved in February by the ICC, has received more than $5 million in grant funding from the U.S. Department of Energy (DOE). It will enable the study of how microgrids support the integration of clean energy onto the grid and increase grid security to keep power flowing even during extreme weather or a catastrophic event. As the electric grid becomes increasingly digital and the demand for renewable power, security and reliability grows, microgrids are expected to serve as a core piece of the electric system’s infrastructure.

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 four 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.

More Stories By Business Wire

Copyright © 2009 Business Wire. All rights reserved. Republication or redistribution of Business Wire content is expressly prohibited without the prior written consent of Business Wire. Business Wire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
At CloudEXPO Silicon Valley, June 24-26, 2019, Digital Transformation (DX) is a major focus with expanded DevOpsSUMMIT and FinTechEXPO programs within the DXWorldEXPO agenda. Successful transformation requires a laser focus on being data-driven and on using all the tools available that enable transformation if they plan to survive over the long term. A total of 88% of Fortune 500 companies from a generation ago are now out of business. Only 12% still survive. Similar percentages are found throug...
Every organization is facing their own Digital Transformation as they attempt to stay ahead of the competition, or worse, just keep up. Each new opportunity, whether embracing machine learning, IoT, or a cloud migration, seems to bring new development, deployment, and management models. The results are more diverse and federated computing models than any time in our history.
Andrew Keys is co-founder of ConsenSys Enterprise. He comes to ConsenSys Enterprise with capital markets, technology and entrepreneurial experience. Previously, he worked for UBS investment bank in equities analysis. Later, he was responsible for the creation and distribution of life settlement products to hedge funds and investment banks. After, he co-founded a revenue cycle management company where he learned about Bitcoin and eventually Ethereum.
Bill Schmarzo, author of "Big Data: Understanding How Data Powers Big Business" and "Big Data MBA: Driving Business Strategies with Data Science" is responsible for guiding the technology strategy within Hitachi Vantara for IoT and Analytics. Bill brings a balanced business-technology approach that focuses on business outcomes to drive data, analytics and technology decisions that underpin an organization's digital transformation strategy. Bill has a very impressive background which includes ...
On-premise or off, you have powerful tools available to maximize the value of your infrastructure and you demand more visibility and operational control. Fortunately, data center management tools keep a vigil on memory contestation, power, thermal consumption, server health, and utilization, allowing better control no matter your cloud's shape. In this session, learn how Intel software tools enable real-time monitoring and precise management to lower operational costs and optimize infrastructure...
Most organizations are awash today in data and IT systems, yet they're still struggling mightily to use these invaluable assets to meet the rising demand for new digital solutions and customer experiences that drive innovation and growth. What's lacking are potent and effective ways to rapidly combine together on-premises IT and the numerous commercial clouds that the average organization has in place today into effective new business solutions. New research shows that delivering on multicloud e...
While a hybrid cloud can ease that transition, designing and deploy that hybrid cloud still offers challenges for organizations concerned about lack of available cloud skillsets within their organization. Managed service providers offer a unique opportunity to fill those gaps and get organizations of all sizes on a hybrid cloud that meets their comfort level, while delivering enhanced benefits for cost, efficiency, agility, mobility, and elasticity.
Darktrace is the world's leading AI company for cyber security. Created by mathematicians from the University of Cambridge, Darktrace's Enterprise Immune System is the first non-consumer application of machine learning to work at scale, across all network types, from physical, virtualized, and cloud, through to IoT and industrial control systems. Installed as a self-configuring cyber defense platform, Darktrace continuously learns what is ‘normal' for all devices and users, updating its understa...
Data center, on-premise, public-cloud, private-cloud, multi-cloud, hybrid-cloud, IoT, AI, edge, SaaS, PaaS... it's an availability, security, performance and integration nightmare even for the best of the best IT experts. Organizations realize the tremendous benefits of everything the digital transformation has to offer. Cloud adoption rates are increasing significantly, and IT budgets are morphing to follow suit. But distributing applications and infrastructure around increases risk, introdu...
DevOps has long focused on reinventing the SDLC (e.g. with CI/CD, ARA, pipeline automation etc.), while reinvention of IT Ops has lagged. However, new approaches like Site Reliability Engineering, Observability, Containerization, Operations Analytics, and ML/AI are driving a resurgence of IT Ops. In this session our expert panel will focus on how these new ideas are [putting the Ops back in DevOps orbringing modern IT Ops to DevOps].
Isomorphic Software is the global leader in high-end, web-based business applications. We develop, market, and support the SmartClient & Smart GWT HTML5/Ajax platform, combining the productivity and performance of traditional desktop software with the simplicity and reach of the open web. With staff in 10 timezones, Isomorphic provides a global network of services related to our technology, with offerings ranging from turnkey application development to SLA-backed enterprise support. Leadin...
Cloud is the motor for innovation and digital transformation. CIOs will run 25% of total application workloads in the cloud by the end of 2018, based on recent Morgan Stanley report. Having the right enterprise cloud strategy in place, often in a multi cloud environment, also helps companies become a more intelligent business. Companies that master this path have something in common: they create a culture of continuous innovation. In his presentation, Dilipkumar Khandelwal outlined the latest...
On-premise or off, you have powerful tools available to maximize the value of your infrastructure and you demand more visibility and operational control. Fortunately, data center management tools keep a vigil on memory contestation, power, thermal consumption, server health, and utilization, allowing better control no matter your cloud's shape. In this session, learn how Intel software tools enable real-time monitoring and precise management to lower operational costs and optimize infrastructure...
The dream is universal: heuristic driven, global business operations without interruption so that nobody has to wake up at 4am to solve a problem. Building upon Nutanix Acropolis software defined storage, virtualization, and networking platform, Mark will demonstrate business lifecycle automation with freedom of choice and consumption models. Hybrid cloud applications and operations are controllable by the Nutanix Prism control plane with Calm automation, which can weave together the following: ...
FinTech is a disruptive innovation that denotes the adoption of technologies that have changed how traditional financial services work. While FinTech is now embedded deeply into the financial services ecosystem, the rise of digital age has paved way to FinTech 2.0 - which is rolling out innovative solutions through emerging technologies at a disruptive pace while maintaining the tenets of security and compliances. Blockchain as a technology has started seeing pilot adoption in FinTech around ...