Illinois regulators approve $46M rate increase to cover ComEd reliability, clean energy transition efforts

ComEd earned approval from the Illinois Commerce Commission (ICC) to increase its rates by $46 million — its first electric delivery rate increase in four years — to cover a mix of reliability investments and efforts to transition to cleaner, renewable energy.

Beginning in January 2022, the average residential customer will see monthly bill increases of approximately 16 cents. This decision followed an eight-month review, and in the end, it puts ComEd’s average total residential customer bill at about what it was in 2008. The company credits energy efficiency programs for keeping bills that low, noting that they have produced $5.7 billion in total customer savings over the years.

“ComEd is providing families and businesses industry-leading performance, and smart investments will be key to meeting new customer expectations,” Gil Quiniones, CEO of ComEd, said. “The power grid must be strong and resilient to withstand more frequent and severe weather events from climate change. We’ve received nearly 10,000 applications from customers this year to connect rooftop and community solar to our grid, at the same time, demand for electric vehicles is growing. Our continuous improvement in performance and our smart investments means we can meet the needs of our customers while helping the state achieve its clean energy goals.”

Also beginning in January, ComEd residential customers will see another 29 cents per month on average added to their bills to cover energy efficiency programs. Still, according to the Edison Electric Institute, the company’s rates remain 17 percent lower than comparable offerings in the 10 largest U.S. metropolitan areas.