Customers of ComEd will see rates lowered by $24 mln
Customers of ComEd will see rates lowered by $24 million beginning in January, keeping the average residential customer bill at $84.
This round of lowered rates marks the third time ComEd has requested a rate decrease, despite repeated investments to improve their system reliability and modernize the grid. In 2008, as new rates took effect, the average residential customer bill was $85. ComEd’s average residential bill has declined 14 percent over the past 10 years, accounting for inflation.
The Illinois Commerce Commission approved the requested decrease Tuesday.
“This is more good news for our customers,” Joe Dominguez, CEO of ComEd, said. “Through our smart grid investments and other initiatives, we’re transforming the energy infrastructure in our region, and we’re doing this work with a strong focus on efficiency and cost management to keep service affordable and provide superior value for customers.”
The request still allows the company to cover costs of installing more than 330,000 smart meters this year, finishing off their goal of 4 million installations. It will also allow them to expand customer data and distribution centers, as well as introduce new efficiency technologies.
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