Details new controls and reporting adopted by ComEd in 2022 to enhance transparency and promote ethical conduct
ComEd today submitted its 2023 Ethics and Compliance Report to state utility regulators at the Illinois Commerce Commission (ICC). The new report details actions taken by ComEd over the past year to ensure its 6,300 employees, as well as contractors, continue to follow the highest standards for ethical conduct, including compliance with all relevant laws and regulations.
In its second annual report filed with the ICC, ComEd detailed actions taken to maintain and enhance its program to comply with its legal and regulatory obligations, as well as high ethical standards. Some of these new and improved measures include:
- A new Ethics and Standards of Conduct webpage, enhancing transparency regarding key compliance policies and reporting
- Creation of a dedicated supply chain compliance team within Exelon’s Supply organization to enhance the focus on supply-related compliance requirements
- Expanded cybersecurity governance and compliance coordination, with new resources added to support compliance with expanding cybersecurity-related regulatory obligations
- Updates to policies guiding lobbying and political activity, including expanded disclosure of company political contributions
“At ComEd, we’re committed to delivering reliable, affordable and clean power for over 9 million people in the region, doing so with integrity and in continued compliance with the law,” said Gil C. Quiniones, CEO of ComEd. “The latest report demonstrates our commitment to earning public trust in our everyday operations through enhanced policies, training and reporting that will promote the highest levels of ethics and integrity throughout every aspect of our organization.”
New actions detailed in this year’s report build on multiple measures ComEd has already taken to enhance ethical conduct, contracting, and public reporting following its 2020 deferred prosecution agreement with the U.S. Department of Justice. Those measures include new policies, expanded oversight, enhanced training for all ComEd employees and contractors, and the creation of a stand-alone Supplier Code of Conduct.
Annual reporting to the ICC is required under the Climate and Equitable Jobs Act (CEJA), landmark legislation which expands customer access to the benefits of clean energy throughout Illinois and establishes strong new ethics requirements for Illinois utilities. In addition to state and local laws, ComEd complies with the requirements of the Federal Energy Regulatory Commission (FERC) and the North American Electric Reliability Corporation (NERC), designed to ensure reliability of the bulk electric system in the U.S. ComEd also operates subject to the compliance program requirements of its parent company, Exelon.
The 2023 Ethics and Compliance Report is now available at ComEd’s website.
About ComEd: 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.