Press release
ComEd Annual Energy Efficiency Investment Proposal Provides Customer Savings
Electric company builds on program that has saved customers more than $7.6 billion CHICAGO--(BUSINESS WIRE)-- Building on the award-winning ComEd Energy
About this update from Exelon Corporation
[{"type":"text","content":"\nElectric company builds on program that has saved customers more than $7.6 billion\n\n\n CHICAGO--(BUSINESS WIRE)--\nBuilding on the award-winning ComEd Energy Efficiency Program, which saved customers $176 million on their electric bills in 2022, ComEd today filed a request with the Illinois Commerce Commission (ICC), which regulates the state’s public utilities, to expand energy efficiency investments in support of the Climate and Equitable Jobs Act (CEJA). The filing proposes an increase of $119 million compared to ICC-approved rates that went in effect in January of this year.\n\n\nIn 2022, ComEd’s program helped more than 630,000 customers save more than 11 million megawatt-hours (MWh) of electricity – more than 100% of the annual goal.\n\n\n“Thanks to CEJA, we are offering a broader range of solutions to help people reduce energy use and costs,” said ComEd CEO Gil Quiniones. “There are new opportunities for everyone, especially income-eligible customers, and we should all remember that using energy wisely and wasting less is one of the easiest ways for anyone to reduce their energy costs and fight climate change.”\n\n\nThe ICC will review ComEd’s request over the next eight months and all costs must be found prudent and reasonable before they are included in customer rates. If approved, ComEd’s request will add approximately 56 cents to the average monthly residential bill beginning in January 2024.\n\n\nEnacted in 2021, CEJA allowed utilities to add to energy efficiency measures that electrify space heating, water heating, cooling, drying, cooking, industrial processes, and other building and industrial end uses that would otherwise require fossil fuel. In 2022, ComEd launched a four-year program to expand options for income-eligible (IE) customers. These include a $40 million whole home electrification program that enables residents to electrify their homes with HVAC systems, water heating, appliances, and necessary electrical upgrades. The company plans to significantly expand energy efficiency offerings for IE customers as part of its ComEd 2030 vision.\n\n\nSince 2008, ComEd’s energy efficiency program has saved customers approximately $7.65 billion on their electric bills. It also has helped customers save more than 70 million MWhs of electricity, which is the annual equivalent to removing nearly 60 billion pounds ...