ICC-Approved ComEd Energy Efficiency Plan to Save Consumers $4 Billion
September 12 2017 - 3:24PM
Business Wire
New plan is part of the Future Energy Jobs Act
set to expand energy efficiency programs and savings for ComEd
customers
The Illinois Commerce Commission yesterday approved ComEd’s new
four-year Energy Efficiency (EE) Plan under the Future Energy Jobs
Act (FEJA). The new plan is set to begin in 2018. It is the first
of three energy efficiency plans put in place by FEJA. In total,
these plans are expected to generate $4 billion in customer
benefits by 2030.
The expanded energy efficiency funding is a key provision of
FEJA, which went into effect in June. As part of this first
four-year plan, ComEd's investment in energy efficiency programs
will be $352 million per year, a 40 percent increase over the
previous $250 million budget. Significant funding will be provided
to grow existing programs for residential and business customers,
such as product rebates, energy assessments, weatherization
offerings, and retrofitting initiatives. There also will be $42
million per year in funding set aside for low-income energy
efficiency programs and $50 million over the life of the plan for
research and development of new and innovative products and
services.
“We are pleased the ICC has approved our four-year Energy
Efficiency Plan, which we expect to provide significant tangible
benefits for all of our customers,” said Val Jensen, Senior Vice
President of Customer Operations. “These 30-plus programs will
result in more customer savings and ensure all communities benefit
from this landmark legislation. As with the legislation, this plan
reflects a level of collaboration with environmental and consumer
groups that is rarely seen around the country. We know this plan is
better for that collaboration”
Energy efficiency investments made through the FEJA also will
create thousands of clean energy jobs through expanded programs and
energy innovation, while preserving low rates and creating a
competitive economic advantage for Illinois
In preparation for the new plan, the charge for the Energy
Efficiency Program was zeroed out and the line item was removed
from customer’s bills from May through September. Starting in
October, customers will see the return of the Energy Efficiency
Program line item on their bills, but at an amount lower than the
previous $2/month residential average charge.
In addition to all of its energy efficiency benefits, FEJA will
provide job training for the future workforce, while also growing
solar energy and providing funding for low-income programs that
extend to ComEd’s customers through 2021.
Commonwealth Edison Company (ComEd) is a unit of Chicago-based
Exelon Corporation (NYSE: EXC), the nation’s leading competitive
energy provider, with approximately 10 million customers. ComEd
provides service to approximately 3.9 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 and YouTube.
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