ComEd Files Delivery and Transmission Rate Updates for 2014
Low energy costs to offset delivery increases, keeping total bills stable
CHICAGO, April 29, 2013
CHICAGO, April 29, 2013 /PRNewswire/ -- ComEd today filed its annual delivery
service rate update with the Illinois Commerce Commission (ICC) to
reflectgrid modernization and other service-enhancing investments, as
required by law. Today's filing marks the third formula rate filing under the
2011 Smart Grid law, and the new rates will take effect January 2014, after
approval by the ICC.
Under the filing, ComEd's delivery service charges would increase by about $5
on the average monthly residential bill starting in January 2014. This
increase, however, will have already been offset by a 17 percent drop in total
average bills that starts this June for customers on ComEd supply. This means
that even with the proposed January increase, customers on ComEd supply will
still be paying about 10 percent less on their electric bill in 2014 than they
are today. Customers that have switched to alternative suppliers for their
electricity supply have been realizing lower costs already.
"The investments we're making today will create long-term benefits and savings
for our customers," said Anne Pramaggiore, president and CEO, ComEd. "This
work is already improving system performance and customer satisfaction and
creating jobs in Illinois. Making these long-term investments now, when energy
supply costs are low, keeps customers' total bills stable."
ComEd also filed with the Federal Energy Regulatory Commission (FERC) for its
annual adjustment in transmission rates, which would mean an increase of about
$1 on the average monthly ComEd residential customer bill. This goes toward
investments in high-voltage lines to improve system reliability, partly as the
result of coal plant retirements and increasing wind power on the system.
While ComEd's smart meter installation is currently set to begin in 2015, it
could start in 2013 if Senate Bill 9, which was passed recently by the
Illinois Senate and House, is enacted this spring. The measure has been sent
to Gov. Quinn for his signature.
ComEd offers payment options and assistance to customers most in need. The
utility announced in March that it has dedicated $10 million in CARE customer
assistance funds for the second consecutive year, as a result of the Smart
Grid law. Last year through the CARE programs, ComEd was able to help more
than 32,000 customers with their bills.
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.
Contact: ComEd Media Relations, (312) 394-3500
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