ComEd files rate increase request with ICC

CHICAGO - ComEd on Tuesday filed its multiyear grid and rate plans with the Illinois Commerce Commission that include an increase in annual delivery costs of $1.47 billion spread out over four years. The company is seeking ICC approval to defer 35% of the 2024 increase until 2026 to smooth the transition for ComEd customers.

The plan will strengthen the region's infrastructure and economy and increase access to the benefits of clean energy and decarbonization under the state's Climate and Equitable Jobs Act, the utility said.

ComEd's plans would result in an increase of about $4.25 in the average monthly residential bill annually from 2024 through 2027, for a total impact of $17 by 2027.

ComEd's average total monthly customer bill of $93 is among the lowest in the nation today, and its residential customers' bills are approximately 20% lower than the average in the 10 largest U.S. metropolitan areas, the utility said.

At ComEd's requested rate for 2027, the average residential bill would be less than even the average 2021 residential utility bill in more than half of U.S. states, ComEd added.

Following an 11-month open process in which the ICC, other public agencies, and consumer, environmental and other groups will review the plan and costs, the ICC will issue a decision in December.

Sustaining the growth of solar energy and preparing to serve more electric vehicles, buildings and industries while maintaining grid safety and reliability for ComEd customers will require physical and digital infrastructure upgrades, ComEd said.