ComEd recently updated 2023 Economic Development Fact Sheet, which highlights ComEd and Illinois’ competitive power advantages, as well as ComEd’s latest programs and incentives designed to help power business growth and allow their customers to meet their sustainability goals.
Key Points
Northern Illinois offers new and existing businesses many strong energy-related assets, including competitive power prices, industry-leading reliability, clean energy options, and more:
- Competitive Power Prices: In ComEd’s service territory, energy charges remain among the most competitive in the Midwest, and commercial rates are sizably smaller than in other U.S. metro areas. ComEd’s average commercial rates are 20% lower than the utilities that serve the top 20 metropolitan areas in the US and 35% lower for industrial customers based on the most recently available data. Additionally, Illinois’ deregulated/competitive energy market provides long term benefits to businesses by providing the ability to negotiate nearly 60% of their electricity costs from more than75 certified suppliers.
- Sustainability & Clean Energy: ComEd’s region is a national leader for clean energy generation. Illinois electricity generation ranks in the top 5 for carbon-free states in the country and the 6th largest for installed wind capacity. Through Illinois’ competitive energy market, customers already have access to 100% renewable and clean power options, while the state transitions to a clean energy future as part of the Climate and Equitable Jobs Act (CEJA). In addition, ComEd also provides solar and storage rebates for customers and new incentives to support the electrification of the transportation sector to increase societal sustainability. More information available at www.comed.com/customerchoice, www.comed.com/solar and www.comed.com/EV.
- Industry-Leading Reliability: ComEd offers our customers the most reliable electricity in the nation, due to our ongoing investments to prepare the grid to stand resilient amid increasingly severe weather and changing electricity uses. Investments in the Smart Grid program over the last decade have helped customers avoid 19 million outages, saving more than in $3 billion in outage related costs, including avoided business losses.
- Additional Considerations: ComEd customers have access to one of the nation’s largest utility energy efficiency programs, with more than $160M in annual incentives available. Since 2008, ComEd customers saved over $8 billion in electricity costs. Earlier this year, ComEd revealed a $231 million investment to help boost electrification, including EVs, over the next three years, which includes new rebates, rates and infrastructure programs designed to help lower upfront cost barriers for commercial customers looking to electrify their fleets. ComEd’s innovative line-extension program (Rider DE), provides large upfront credits that reduce costs of grid expansion work for qualifying new large customers. Lastly, our workforce development programs are building a strong and diverse talent pipeline through education and training for new and highly specialized jobs across key industries, including EV and solar. More info available at www.comed.com/bizincentives and www.comed.com/WFD.