ComEd investments are preparing the grid for climate change impacts and the clean energy transition
Investments in the power grid continued to pay reliability dividends for ComEd customers as the electric company delivered record reliability in 2022. Since grid improvements began in 2011, overall reliability has improved more than 80 percent. In that time, ComEd has avoided more than 19 million power outages for customers, saving more than $3.3 billion in outage-related costs. In 2022, 85 percent, or nearly 3.5 million ComEd customers, experienced zero or one interruption in service.
“With growing concerns about carbon emissions and air pollution, we are living in a world that will be increasingly electric,” said Terence Donnelly, president and chief operating officer of ComEd. “As people purchase more electric vehicles and appliances, and renewable energy like solar expands across our communities, we will continue to make necessary investments in our system to ensure we are ready to meet demand.”
As extreme weather events, electrification and other ComEd customer needs increase, the need to invest in reliable infrastructure grows. ComEd recently filed multiyear grid and rate plans that outline grid work required to support the expansion of renewables such as solar and wind power and beneficial electrification for ComEd customers while maintaining and improving the system to continue the level of reliability customers have come to expect. The plans support the goals of the Climate and Equitable Jobs Act (CEJA) that Illinois enacted in 2021, including ensuring that under-resourced communities benefit from the clean energy transition.
“The investments we’ve made to this point have improved our overall reliability as demands on the system have grown,” said Donnelly. “But as the needs and expectations of our customers evolve, the grid needs to evolve with them.”
In addition, the grid plan advances ComEd’s leading role in supporting economic growth across northern Illinois. Companies continue to invest in the region thanks to the unparalleled access to clean, cost-effective and highly reliable power. As one key example, in the last two years, ComEd has brought 28 commercial projects online, including 12 data centers, representing 6,800 jobs and more than $3 billion in local investment.
"ComEd's track record for reliability is an asset that the new Greater Chicagoland Economic Partnership will leverage, along with other important attributes, to further enhance the region's competitiveness," said Michael Fassnacht, President & CEO of World Business Chicago, and Chief Marketing Officer, City of Chicago. "We also recognize the need to proactively address issues such as cost-effectiveness and sustainability, and we look forward to working with ComEd to ensure competitive pricing for industrial use and an increased percentage of renewable energy sources for the greater Chicago region. By doing so, we believe the Chicagoland region will become an even more attractive location for business expansion and investment."
“A modern electric grid and access to renewable energy are key factors that companies making location decisions look for,” said Intersect Illinois CEO Dan Seals. “ComEd’s investment in reliable infrastructure helps us to attract companies that are committed to a sustainable future.”
According to a recent company analysis of 25 peer U.S. energy companies with approximately 1 million customers or more, families and businesses served by ComEd experienced fewer power outages on average than customers of any comparable electric company for a fifth consecutive year in 2021, based on industry standard measures for reliability.
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
View source version on businesswire.com: https://www.businesswire.com/news/home/20230126005657/en/
Contacts
ComEd Media Relations
312-394-3500
