ComEd Files Annual Rate Update Under New Grid Modernization Law

CHICAGO, April 30, 2012 /PRNewswire/ -- ComEd today filed an update with the Illinois Commerce Commission (ICC) to reflect new investments under the Energy Infrastructure Modernization Act (EIMA). ComEd has begun the work of strengthening and modernizing the electric grid to transform the delivery of electricity to customers throughout northern Illinois. If approved, the update would raise the average customer bill by about 97 cents per month over today's rates, starting in 2013. Before that, rates are expected to decline in June through the end of 2012, based on an earlier filing.

The EIMA authorizes a 10-year, $2.6 billion ComEd investment program to drive value to customers through a stronger electric system with fewer outages, faster restoration and the deployment of new digital "smart" technologies that improve customers' experience with more information, more power to control their electric bills and more ways to save money.

"Today's filing is another important milestone achieved in the transformation of Illinois' electric system that was envisioned by the grid modernization law," said Anne Pramaggiore, ComEd president and CEO. "This new annual update process paves the way for long-term investments in the system that will deliver tremendous value and benefits to our customers while minimizing the impact on rates. A series of strict accountability standards outlined in the legislation ensures that ComEd delivers this customer value."

In January, ComEd began the work of modernizing the grid and is proceeding on schedule. 2012 investments include $139 million to improve reliability for customers and $94 million in smart grid investments. Significant efforts are focused on storm hardening to further reduce the susceptibility of storm-related damage to power lines. The 2012 reliability investments also include the inspection and any necessary treatment of approximately 133,000 utility poles,

The 2012 work underway also involves adding new technology to the system such as devices that will automatically re-route power around a problem, often with no noticeable interruption in service. Just last week, ComEd filed plans with the ICC to install 130,000 smart meters in 2012, beginning in the fall.

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