Illinois Senate Passes Resolution Calling on the ICC to Maintain Integrity of Grid Modernization Law, Protect Job Creation

Illinois Senate Passes Resolution Calling on the ICC to Maintain Integrity of
                 Grid Modernization Law, Protect Job Creation

ComEd reliability and customer service improvements, creation of 2,000 jobs
now in jeopardy

PR Newswire

CHICAGO, Nov. 29, 2012

CHICAGO, Nov. 29, 2012 /PRNewswire/ --ComEd announced that the Illinois
Senate passed a resolution today that calls on the Illinois Commerce
Commission to maintain the integrity of the Energy Infrastructure
Modernization Act (EIMA) enacted by the full General Assembly last year to
improve electric reliability, give customers greater control over energy usage
and costs and create jobs.

"ComEd is delivering on its promises to customers and to the state of
Illinois," said Anne Pramaggiore, ComEd president and CEO. "Under the grid
modernization law, we have created more than 700 jobs in the process of
strengthening our system and improving reliability and storm response for
customers. We are grateful to the Senate for passing SR 821, signaling its
commitment to this 10-year, $2.6 billion investment program."

The Senate resolution, which passed by a vote of 47 to 4, strongly urges the
ICC to reverse its decision to reduce funding on key issues in the utility's
first formula rate filing under the new law.

"The General Assembly last year voted overwhelmingly in favor of the grid
modernization law, because it will create more than 2,000 jobs, help reduce
power outages, and hold utilities to first-of-a-kind performance standards to
ensure that Illinois residents get better service and cost-saving
opportunities," said Illinois Senate President John J. Cullerton. "The law
also very clearly recognized this program requires a significant amount of
investment, and to do this, utilities need reasonable certainty to recover
their actual costs. Today's resolution sends a strong message that the
legislature wants the ICC to adhere to the law and ensure all benefits are
achieved."

After the ICC disallowed key costs May 29 in ComEd's first formula rate case
under EIMA, the company sought rehearing on 13 issues that had a significant
aggregate impact on ComEd's finances, and of these 13, the three largest were
reconsidered in rehearing. Only one of these was reversed by the ICC when it
ruled on the rehearing Oct. 3.

As a result, ComEd will face a reduction in funding of nearly $100 million per
year in 2014 and beyond. These are dollars that cannot be recovered and
subsequently reinvested into the system, jeopardizing the grid modernization
programs and related customer benefits. ComEd has appealed the ruling in
court, but that decision may take up to two years.

"We are working to implement the legislature's vision to modernize our system,
improve reliability, give customers greater control over energy usage and
costs, create jobs and keep Illinois economically competitive," said
Pramaggiore. "The Senate resolution asks for nothing more than what the
legislation already provides. It only asks that the law be followed and
implemented for the benefit of Illinois consumers and our economy."

Commonwealth Edison Company (ComEd) is a unit of Chicago-based Exelon
Corporation (NYSE: EXC), the nation's leading competitive energy provider,
with approximately 6.6 million customers. ComEd provides service to
approximately 3.8 million customers across northern Illinois, or 70 percent of
the state's population.

SOURCE ComEd

Website: http://www.exeloncorp.com
Contact: ComEd Media Relations, +1-312-394-3500
 
Press spacebar to pause and continue. Press esc to stop.