CHICAGO--(BUSINESS WIRE)--The Illinois Commerce Commission yesterday approved ComEd’s request to provide ComEd customers with an approximately $80 million refund as a result of ComEd’s efforts to implement the new Energy Efficiency funding mechanism established by the historic Future Energy Jobs Act (FEJA). As a result, the average ComEd residential customer will see a credit of close to $14 on their October monthly bill.
ComEd had requested the refund as part of the transition to the new Energy Efficiency funding mechanism made possible through FEJA, the energy legislation that passed the Illinois General Assembly with broad bipartisan support. Signed into law by Governor Rauner last year, FEJA helps to pivot Illinois to the new clean energy economy by growing renewable energy resources and significantly expanding energy efficiency programs that help customers save energy and money.
“As a result of changes made to grow our Energy Efficiency Program under FEJA, we requested that fees collected under the old plan be refunded,” said Val Jensen, Senior Vice President of Customer Operations. “We’re pleased that the ICC took this opportunity to provide our customers with this valuable refund and we look forward to helping them save even more under the new Energy Efficiency Plan starting in 2018-2022, which will create more than $4 billion in consumer savings.”
FEJA will save and create thousands of clean energy jobs and provide job training for the future workforce, while also creating significant consumer and environmental benefits. This comprehensive, bipartisan legislation nearly doubles energy efficiency programs, creating more than $4 billion in consumer savings and reducing the amount CO2 in the air equivalent to removing 18 million cars from the road. Further, the Act contains significant programs for low-income communities and extends ComEd’s customer assistance programs through 2021.
Commonwealth Edison Company (ComEd) is a unit of Chicago-based Exelon Corporation (NYSE: EXC), the nation’s leading competitive energy provider, with approximately 10 million customers. ComEd provides service to approximately 3.9 million customers across northern Illinois, or 70 percent of the state’s population. For more information visit ComEd.com, and connect with the company on Facebook, Twitter and YouTube.