“Based on energy forwards as of January 31, these credits are projected to protect ComEd customers from over $3 billion of additional energy charges between 2022 and 2027.”

In context

“billion, representing a 1% or $50 million increase from 2022, a rate well below the expected inflation rate of 4% in 2023 and building on our efficiency efforts in 2022. We will continue to ensure that our business is appropriately designed to efficiently deliver services as a transmission and distribution only energy delivery company. This study discipline around cost has positioned us very well. In the bottom chart, you can see Exelon’s average electric rates are 23% below the top 20 metropolitan cities in the United States. Beyond cost management, other unique factors contribute to lower bills for our customers, some of which Calvin discussed. But I’d like to highlight the benefit of the carbon mitigation contracts resulting from Illinois’s 2021 Climate and Equitable Jobs Act or CEJA. Based on energy forwards as of January 31, these credits are projected to protect ComEd customers from over $3 billion of additional energy charges between 2022 and 2027. That brings me to Slide 13, where I wanted to take a moment to highlight ComEd’s commitment to decarbonizing the communities in Illinois in the most efficient, affordable, and equitable manner possible. CEJA put Illinois on a path to a 100% decarbonized energy sector by 2045. It also provides a framework for ComEd to help support the state and make the grid investments necessary to support beneficial electrification, decarbonization, and the energy transformation. In one of its first steps to meeting the challenge of a clean energy economy, ComEd filed its multi-year integrated grid plan and multi-year rate plan covering 2024 through 2027 with the Illinois Commerce Commission. The proposed investment plan includes initiatives such as 4 kV to 12 kVconversions, bus reconfigurations, overhea”