“ComEd's residential customer rates next January are expected to be at least 10% below the average of rates in the 10 largest U.S. metropolitan areas.”

In context

“stomer assistance with additional low-income funding and the continuation of small business grant program. We expect an order in the fourth quarter of 2022. Finally, ComEd filed its annual distribution formula rate update with the Illinois Commerce Commission on April 15, seeking a $199 million increase to electric distribution base rates that resulted in a $2.20 increase in the average monthly residential bill starting January 2023. While ComEd is requesting a delivery charge increase, there will be offsets. Specifically, when taking into account higher energy prices based on the recent procurement auction and forwards, offset by lower capacity prices, the carbon mitigation credits and accelerated tax benefit, we currently estimate a net reduction to the average monthly residential bill. ComEd's residential customer rates next January are expected to be at least 10% below the average of rates in the 10 largest U.S. metropolitan areas. In its formula -- in its final formulary filing, ComEd's request supports investments needed to sustain the record level reliability performance for residential and commercial customers and helps advance the goals of the Climate and Equitable Jobs Act passed in Illinois to address climate change, create clean energy jobs, ensure equity and prioritize a just transition to a green economy. We expect to receive an order by early December. We continue to have constructive regulatory relationships across our jurisdictions and are working with our regulators, our states and our communities to support their clean energy and climate goals. As a reminder, we expect nearly 100% of our rate base growth will be covered by alternative recovery mechanisms by the end of our planning period. More details”