CHICAGO--(BUSINESS WIRE)--The annual transmission rate update filed today by ComEd with the Illinois Commerce Commission (ICC) calls for a decrease of $26 million in rates that take effect in June.
The decrease reflects savings passed on to customers through the lower corporate tax rate established by the Federal Tax Cut and Jobs Act that went into effect in January. It will result in a reduction of approximately 20 cents in monthly transmission costs for ComEd customers.
Transmission costs are driven by ComEd’s capital investments in transformer upgrades and replacements, system hardening, and capacity expansion to improve reliability. Major transmission initiatives include a new substation to support a growing concentration of data center operators in the Elk Grove Village area. Protecting customer data and systems from potential cyber security threats is an increasingly high priority and related investments are growing accordingly.
In April, ComEd filed its annual formula rate update request for electricity delivery calling for a decrease of $23 million compared to approved rates in effect in January of this year. The request would result in a decrease of approximately 50 cents on the monthly bill beginning in January of next year.
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 four 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.