US utility ComEd has secured a greenlight from energy regulator Illinois Commerce Commission to reduce its energy delivery services by $17 million as from 2020.
This will be ComEd’s third energy tariff decrease in the past five years.
Tariffs for an average customer will decrease by 60 cents to $83,00. ComEd’s average residential rate is 20% below the average of the top 10 cities.
The approval follows ComEd reducing its revenue by $24 million in 2018.
Joe Dominguez, CEO, ComEd, said: “We are on pace for our best year ever.
“More than 90% of the energy delivered to our customers comes from clean sources, and we’ve delivered record reliability and customer service in the face of huge weather challenges. We could not be more proud of the talented men and women of ComEd and the diverse suppliers who are helping us drive innovation and meet the evolving needs of our communities.”
The decrease is due to smart grid investments made by ComEd since 2014.
The investments have led to:
- 60% improvement in grid reliability
- The utility avoiding up to 13 million customer interruptions
- Savings from avoided outages reaching $2.4 billion
- Over $300 million in customer benefits related to smart meters
“The improvement in reliability is the foundation for the continued innovation and expansion of the electric grid to other functions.
“From increasing access to renewable energy, EVs and electrification, we’re working with stakeholders and our technology partners to ensure the northern Illinois region fully benefits from the grid of the future and a clean energy economy,” Dominguez reiterated.