ComEd discussed their approach to economic and business development at Choose DuPage’s Quarterly Communities Meeting March 12, 2015. Their presentation covered the Energy Infrastructure Modernization Act, energy efficiency programs, and economic development assistance.
ComEd was established in 1887 as a principal electricity distribution company in Northern Illinois. The company serves 9.6 million people (70% of the State’s population).
Exelon formed in 2000 as a merger of PECO Energy (Philadelphia) and Unicom (ComEd’s parent company). Exelon serves 27,000 employees and 6.6 million customers.
Energy Infrastructure modernization act
On October 27, 2011, the Illinois General Assembly enacted the Energy Infrastructure Modernization Act (EIMA), setting in motion a $2.6 billion investment by ComEd to strengthen and modernize the state’s electric grid.
The plan has two primary components:
- Reliability-Related Investments – 5 year program – $1.3 billion
- Underground cable – mainline, URD, manholes
- Training centers
- Wood pole inspection, reinforcement/replacement
- Storm hardening – undergrounding, spacer cable
- Smart Grid-Related Investments – 10 year program – $1.3 billion
- Distribution automation
- Smart substations
- Smart meters
Results so far conclude that ComEd is approximate 54% of the way through infrastructure work, 18% of smart meters are installed, 3,800 jobs created, and over one million outages were avoided.
Energy Efficiency Programs
This program provides extensive business customer rebates.
- Smart Ideas Opportunity Assessments (SIOA)
- Standard incentive programs
- Custom incentives program
- Commercial building optimization
- Industrial systems optimization
- Business Instant Lighting Discounts (BILD)
- New Construction
- Small business energy savings
Since 2008, 3,800 participating businesses have earned $24 million in rebates and are saving over $19 million in annual electricity costs on their bills.
2013 and 2014 reliability performance is the best on record and in the top 25% of peer utilities nationally. In addition, the deregulated marketing with 50+ competitive suppliers have saved customers $39 billion since 1999. Illinois rates are among the top 25% lowest for all states. And, extensive energy efficiency programs have saved participating customers $1 billion since 2008.
ComEd will continue collaborating with state, regional, and local officials to spur economic growth. Further, ComEd will assist in the development of mutually advantageous opportunities that retain or attract businesses to area communities.