ICC Approves Reduction to Energy Efficiency Charges for ComEd Customers in 2017

Future Energy Jobs Act creating immediate savings of more than $2.00
per month this year for ComEd residential customers, with expansion of
energy savings options to begin in January 2018

CHICAGO–(BUSINESS WIRE)–The Illinois Commerce Commission (ICC) today approved the first major
step toward expanding energy efficiency (EE) programs in Illinois under
the Future Energy Jobs Act (FEJA), setting the stage to save residential
customers more than $2.00 per month over the course of 2017.

FEJA, energy legislation that passed the Illinois General Assembly with
broad bipartisan support and was signed into law by Governor Rauner last
year, helps to pivot Illinois to the new clean economy by growing
renewable energy resources and significantly expanding energy efficiency
programs that help customers save energy and money.

“The Future Energy Jobs Act strengthens Illinois’ economy by
significantly expanding clean energy choices for our customers,” said
ComEd Senior Vice President of Customer Operations Val Jensen. “Today’s
approval is an exciting first step toward aligning utility and customer
interests toward less energy use, changing the utility business model so
that ComEd can invest in energy efficiency as a service.”

ComEd will now begin transitioning to a new system and way of funding
efficiency programs. Here is what’s ahead for the energy efficiency
charge on customers’ bills in 2017, pending ICC approval of additional
filings related to the transition:

  • From May through September, customers will see the energy efficiency
    charge on their bills zero out – a change from about $2.00/month for
    the average residential customer today.
  • Around October, customers can expect a one-time refund for the
    retiring programs.
  • In November and December, the EE charge on customer bills will level
    out to an amount significantly less than the prior $2.00/month average.

FEJA will increase funding for EE from $250 million up to $400 million
per year by 2030, creating more than $4 billion in consumer savings and
reducing the CO2 by an amount equivalent to removing 18
million cars from the road. New, expanded energy efficiency programs
will begin in January 2018. Charges for the new programs will begin to
appear on customer bills at that time. While the amount of that charge
is not yet known, it is expected to be significantly less than what
customers pay today. The reason for the decrease is due to new way of
accounting for energy efficiency costs, which allows ComEd to spread the
costs over time, rather than charging for them all upfront. This new
accounting method will enable ComEd to provide more energy efficiency
options to customers, helping them achieve even greater financial and
environmental benefits.

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.
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