Four-year plan invests approximately $1.7 billion in customer energy efficiency
CHICAGO, March 02, 2022--(BUSINESS WIRE)--ComEd yesterday submitted to the Illinois Commerce Commission (ICC), which regulates the state’s utilities, a four-year, $1.7 billion plan to expand programs that help business, residential and public sector customers reduce energy use and save money. The plan incorporates feedback from local stakeholders and updates the energy efficiency plan the ICC approved in 2021 to reflect changes enabled by the state’s new clean energy law, which expands these programs, and allows energy efficiency goals to be partially met by electrification initiatives.
"ComEd fully supports the clean energy law’s focus on further expanding our work to help low-income customers save energy and lower their bills," said Erica Borggren, vice president of customer solutions at ComEd. "We’re proud to propose, for the first time, to gradually incorporate electrification into our energy efficiency offerings to customers, with a focus on those who need these savings and health benefits the most."
ComEd’s 2022-2025 energy efficiency plan is designed to help customers save energy and money, with a particular focus on programs and savings for customers and communities in need. Specifically, ComEd’s plan:
Dedicates more than $113 million per year to income-eligible programs – nearly three times the required $40 million per year.
This funding will be spent on single-family and multifamily upgrades and affordable housing new construction, in addition to other programs for income-eligible customers.
Targets $10 million per year to support income-eligible electrification measures – for example, heating and cooling, water heating and appliances – that will save customers money and improve their quality of life.
Expands business and public sector programs to accommodate large public customers and private customers that do not opt out.
"Our goal is to see continual growth in energy efficiency investments, as these investments save individual customers energy and money but also provide important societal, environmental and health benefits to entire communities," said Stacey Paradis, Executive Director of the Midwest Energy Efficiency Alliance. "We’ve been impressed with ComEd’s leadership having grown their energy efficiency program from its start in 2008 to their plans today to make what is the single largest energy efficiency investment in the Midwest. We are excited to see their focus on affordability and bringing energy efficiency programs and benefits to the people that most need it. We commend them on their industry-leading work and look forward to the continued growth of the ComEd Energy Efficiency Program."
The ComEd Energy Efficiency Program is one of the largest programs in the nation, offering residents, businesses and public sector customers a variety of options that help them cut back on their energy use, which reduces energy bills and helps the environment. Since ComEd introduced its energy efficiency programs in 2008, customers have saved more than $6 billion on their energy bills.
ComEd is a unit of Chicago-based Exelon Corporation (NASDAQ: EXC), a Fortune 200 energy company with approximately 10 million electricity and natural gas customers – 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’s population. For more information visit ComEd.com and connect with the company on Facebook, Twitter, Instagram and YouTube.
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ComEd Media Relations