CHICAGO--(BUSINESS WIRE)--The Illinois Commerce Commission yesterday approved ComEd’s new four-year Energy Efficiency (EE) Plan under the Future Energy Jobs Act (FEJA). The new plan is set to begin in 2018. It is the first of three energy efficiency plans put in place by FEJA. In total, these plans are expected to generate $4 billion in customer benefits by 2030.
The expanded energy efficiency funding is a key provision of FEJA, which went into effect in June. As part of this first four-year plan, ComEd's investment in energy efficiency programs will be $352 million per year, a 40 percent increase over the previous $250 million budget. Significant funding will be provided to grow existing programs for residential and business customers, such as product rebates, energy assessments, weatherization offerings, and retrofitting initiatives. There also will be $42 million per year in funding set aside for low-income energy efficiency programs and $50 million over the life of the plan for research and development of new and innovative products and services.
“We are pleased the ICC has approved our four-year Energy Efficiency Plan, which we expect to provide significant tangible benefits for all of our customers,” said Val Jensen, Senior Vice President of Customer Operations. “These 30-plus programs will result in more customer savings and ensure all communities benefit from this landmark legislation. As with the legislation, this plan reflects a level of collaboration with environmental and consumer groups that is rarely seen around the country. We know this plan is better for that collaboration”
Energy efficiency investments made through the FEJA also will create thousands of clean energy jobs through expanded programs and energy innovation, while preserving low rates and creating a competitive economic advantage for Illinois
In preparation for the new plan, the charge for the Energy Efficiency Program was zeroed out and the line item was removed from customer’s bills from May through September. Starting in October, customers will see the return of the Energy Efficiency Program line item on their bills, but at an amount lower than the previous $2/month residential average charge.
In addition to all of its energy efficiency benefits, FEJA will provide job training for the future workforce, while also growing solar energy and providing funding for low-income programs that extend to ComEd’s customers 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.