ComEd rate increase approved

CHICAGO - The Illinois Commerce Commission, which regulates the state's public utilities, has approved an overall $46 million increase in ComEd's electrical rates that will add 16 cents to the average monthly bill for residential customers beginning in January.

This will be the utility's first electric delivery rate increase in four years, ComEd said.

The decision concludes an eight-month process in which the ICC, Illinois Attorney General and consumer groups reviewed ComEd's actual costs for 2020 and power grid investments this year. Those investments will enhance reliability and enable the transition to clean and renewable energy, ComEd said.

"ComEd is providing families and businesses industry-leading performance and smart investments will be key to meeting new customer expectations," said Gil Quiniones, CEO of ComEd. "The power grid must be strong and resilient to withstand more frequent and severe weather events from climate change."

ComEd said it received nearly 10,000 applications from customers this year to connect rooftop and community solar to its power grid, while at the same time demand for electric vehicles is growing.