{"id":396928,"date":"2020-12-09T19:07:28","date_gmt":"2020-12-10T00:07:28","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=396928"},"modified":"2020-12-09T19:07:28","modified_gmt":"2020-12-10T00:07:28","slug":"icc-approves-comeds-third-consecutive-rate-decrease-for-customers","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/icc-approves-comeds-third-consecutive-rate-decrease-for-customers\/","title":{"rendered":"ICC Approves ComEd\u2019s Third Consecutive Rate Decrease for Customers"},"content":{"rendered":"<p>        <!--.bwalignc { text-align: center; list-style-position: inside }body {font:normal small Arial,Helvetica,sans-serif;color:#000;background-color:#fff;padding:24px;margin:0;} a img {border:0;} h3 {font-size:medium;color:#000;margin:0 0 1em 0; text-align:center;}-->  <\/p>\n<p class=\"bwalignc\">\nICC Approves ComEd\u2019s Third Consecutive Rate Decrease for Customers\n<\/p>\n<p class=\"bwalignc\"><i>$14 million decrease is fifth decrease in 10 years<\/i><\/p>\n<p>CHICAGO&#8211;(<a href=\"http:\/\/www.businesswire.com\">BUSINESS WIRE<\/a>)&#8211;<br \/>\nThe Illinois Commerce Commission today approved ComEd\u2019s request for a $14 million decrease in delivery service charges in 2021 compared to rates in effect this past January. The approval comes after an eight-month proceeding in which regulators, the Illinois Attorney General, the Illinois Industrial Energy Consumers, the Citizens Utility Board and others review the costs and investments that determine customer rates. It marks ComEd\u2019s fifth rate decrease in the past 10 years.\n<\/p>\n<p>\nThe new delivery rate will lower residential customer bills by about $1 per month. This will result in an average monthly bill of close to $82, which is lower than customer bills in 2008. Energy supply charges account for almost half of the monthly residential bill, and ComEd does not mark up or profit on these costs.\n<\/p>\n<p>\n\u201cFamilies and businesses need to be able to count on reliable energy at this uncertain time, and they need to have confidence that we\u2019re doing everything we can to keep our costs low and bills manageable,\u201d said Joe Dominguez, CEO of ComEd. \u201cI\u2019m proud that we\u2019re able to provide a third rate decrease in a row during this public health crisis. The 6,000 women and men of ComEd have worked to implement smart grid investments that are consistently providing record reliability, efficiencies and savings that we pass on to our customers.\u201d\n<\/p>\n<p>\nComEd\u2019s total average monthly residential rate of 13.05 per kilowatt hour (kWh) is 10% below the average of the top 20 U.S. metro areas by population, according to rates reported by the Edison Electric Institute for the 12 months ending in December 2019. ComEd\u2019s average industrial rate of 7.37 cents per kWh is 21% below the top 20 average, and its average commercial rate of 9.79 cents per kWh is 18% below the top 20 average.\n<\/p>\n<p>\nComEd customers are directly benefiting from fewer and shorter power outages as reliability has improved more than 70% since the smart grid program began in 2012. Customers captured $655 million in direct economic value from avoided customer interruptions between the key smart grid investment years of 2012 to 2017. The avoided outages have resulted in $2.4 billion in societal savings and 94 million pounds of avoided greenhouse gas pollution.\n<\/p>\n<p>\nAlso contributing to lower rates are energy efficiency programs that have helped ComEd customers save $5.2 billion on their energy bills since 2008, in addition to avoiding more than 55 billion pounds of carbon emissions, the equivalent of taking more than 5.4 million cars off the road. While ComEd customers will pay roughly half as much for energy efficiency next year as they did before Illinois implemented the Future Energy Jobs Act (FEJA) in 2017, they will save significantly more: In just three years under FEJA, energy efficiency investments have saved customers almost as much as they did in the 10 years before the law was implemented.\n<\/p>\n<p>\nInvestments recovered in this year\u2019s proceeding include fiber optics communication technology to enable monitoring and control of transmission and distribution networks, reduce frequency and duration of outages and support grid security. Investments also include digital substation upgrades to enhance resiliency and add more renewable energy sources; and voltage optimization which creates up to 2% in annual savings for an average residential customer. ComEd also has been making grid investments to support some of the world\u2019s largest data center operators, who are expanding or relocating to the Chicago area because of the superior reliability of the electric system and competitive rates.\n<\/p>\n<p><i>ComEd is a unit of Chicago-based Exelon Corporation (NASDAQ: EXC), a Fortune 100 energy company with approximately 10 million electricity and natural gas customers \u2013 the largest number of customers in the U.S. ComEd powers the lives of more than 4 million customers across northern Illinois, or 70 percent of the state\u2019s population. For more information visit <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.comed.com%2F&amp;esheet=52345623&amp;newsitemid=20201209006049&amp;lan=en-US&amp;anchor=ComEd.com&amp;index=1&amp;md5=dd10b880602ef8ff52b8dd256118f046\">ComEd.com<\/a> and connect with the company on <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.facebook.com%2FComEd&amp;esheet=52345623&amp;newsitemid=20201209006049&amp;lan=en-US&amp;anchor=Facebook&amp;index=2&amp;md5=b9df32ad061927639ad292790659c5e5\">Facebook<\/a>, <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.twitter.com%2FComEd&amp;esheet=52345623&amp;newsitemid=20201209006049&amp;lan=en-US&amp;anchor=Twitter&amp;index=3&amp;md5=b0adb794ffaece3fbb282abb050a1f61\">Twitter<\/a> and <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.youtube.com%2Fuser%2FCommonwealthEdison%2FComEd&amp;esheet=52345623&amp;newsitemid=20201209006049&amp;lan=en-US&amp;anchor=YouTube&amp;index=4&amp;md5=f18d6dabcaa1e54f8cf11c6dd5d10f51\">YouTube<\/a>. <\/i><\/p>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20201209006049r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" style=\"width:0;height:0\" \/><span class=\"bwct31415\" \/><\/p>\n<p id=\"mmgallerylink\"><span id=\"mmgallerylink-phrase\">View source version on businesswire.com: <\/span><span id=\"mmgallerylink-link\"><a href=\"https:\/\/www.businesswire.com\/news\/home\/20201209006049\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20201209006049\/en\/<\/a><\/span><\/p>\n<p>\nComEd Media Relations<br \/>\n<br \/>312-394-3500\n<\/p>\n<p><b>KEYWORDS:<\/b> Illinois United States North America<\/p>\n<p><b>INDUSTRY KEYWORDS:<\/b> Congressional News\/Views Public Policy\/Government State\/Local Other Policy Issues Oil\/Gas Alternative Energy Energy<\/p>\n<p><b>MEDIA:<\/b><\/p>\n<table cellpadding=\"3\" cellspacing=\"3\">\n<tr>\n<td><font face=\"Arial\" size=\"2\"><b>Logo<\/b><\/font><\/td>\n<\/tr>\n<tr>\n<td><img decoding=\"async\" src=\"https:\/\/mms.businesswire.com\/media\/20201209006049\/en\/453433\/3\/ComEd_PoweringLogo_NEW.jpg\" alt=\"Logo\" \/><\/td>\n<\/tr>\n<tr>\n<td><font face=\"Arial\" size=\"2\"><\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>ICC Approves ComEd\u2019s Third Consecutive Rate Decrease for Customers $14 million decrease is fifth decrease in 10 years CHICAGO&#8211;(BUSINESS WIRE)&#8211; The Illinois Commerce Commission today approved ComEd\u2019s request for a $14 million decrease in delivery service charges in 2021 compared to rates in effect this past January. The approval comes after an eight-month proceeding in which regulators, the Illinois Attorney General, the Illinois Industrial Energy Consumers, the Citizens Utility Board and others review the costs and investments that determine customer rates. It marks ComEd\u2019s fifth rate decrease in the past 10 years. The new delivery rate will lower residential customer bills by about $1 per month. This will result in an average monthly bill of close to $82, which is &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/icc-approves-comeds-third-consecutive-rate-decrease-for-customers\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;ICC Approves ComEd\u2019s Third Consecutive Rate Decrease for Customers&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-396928","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>ICC Approves ComEd\u2019s Third Consecutive Rate Decrease for Customers - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/icc-approves-comeds-third-consecutive-rate-decrease-for-customers\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"ICC Approves ComEd\u2019s Third Consecutive Rate Decrease for Customers - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"ICC Approves ComEd\u2019s Third Consecutive Rate Decrease for Customers $14 million decrease is fifth decrease in 10 years CHICAGO&#8211;(BUSINESS WIRE)&#8211; The Illinois Commerce Commission today approved ComEd\u2019s request for a $14 million decrease in delivery service charges in 2021 compared to rates in effect this past January. The approval comes after an eight-month proceeding in which regulators, the Illinois Attorney General, the Illinois Industrial Energy Consumers, the Citizens Utility Board and others review the costs and investments that determine customer rates. It marks ComEd\u2019s fifth rate decrease in the past 10 years. The new delivery rate will lower residential customer bills by about $1 per month. 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The approval comes after an eight-month proceeding in which regulators, the Illinois Attorney General, the Illinois Industrial Energy Consumers, the Citizens Utility Board and others review the costs and investments that determine customer rates. It marks ComEd\u2019s fifth rate decrease in the past 10 years. The new delivery rate will lower residential customer bills by about $1 per month. 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