ComEd Customers Benefit from Improved Reliability in the First Four Months of 2024

Despite continued challenges facing the electric grid, including more severe weather as a result of climate change and increased demand from electric vehicles (EVs) and other electrified technologies, ComEd in the four months of 2024 delivered improved reliability as compared to the same period in 2023. Customers saw a 13% reduction in the number of power outages and a 72% reduction in outage duration.

“It wasn’t long ago that residents needed to have a flashlight at the ready because outages were expected. But ComEd’s investments in grid modernization over the past decade have increased resiliency and improved overall reliability for northern Illinois residents and businesses- in fact, we were named the most reliable American utility last year,” said David R. Perez, ComEd EVP and COO. “Through our continued grid modernization to address current and future challenges and the hard work of our more than 6,300 employees, we’re committed to reliably powering lives for the more than 9 million people we’re privileged to serve.”

ComEd’s performance comes as the company faces more powerful, storms and continues to focus on power grid investments and innovations, storm hardening and vegetation management solutions, and cable replacement to ensure continued strong service as new challenges impact the grid and as customer needs evolve. In 2023, ComEd saw record reliability in several areas, including a reduction in the frequency of outages. This work led the company to be named the most reliable utility in the nation in 2023.

ComEd customers have seen continuous improvement in grid reliability performance in recent years, with fewer customer outages at any point in the company’s history, and outages with a shorter duration when they do occur. Since ComEd started smart grid improvements in 2012, it has improved overall reliability by more than 70 percent, helping customers avoid nearly 21.7 million outages and save more than $3.8 billion in outage-related costs.

“ComEd’s commitment to grid modernization is important to the state’s economic growth, as reliable power is essential to nearly every company looking for a new or expanded location,” said Intersect Illinois CEO Dan Seals. “We work with companies from a variety of industries with unique power needs, and Illinois’ availability of clean and reliable power is a key differentiator for the state.”

Strong reliability has been a driving factor for businesses seeking to expand and grow in the region, with ComEd last year securing 15 new commercial projects, including nine data centers, collectively set to add 4,385 jobs at their facilities and more than $8.6 billion in local investment. In addition to strong power reliability, business and residential customers alike enjoy access to an abundance of clean energy, with ability to meet 96 percent or more of customers’ energy consumption today with decarbonized energy sources and plans to reach 100 percent thanks to the recent passage of the state’s Climate and Equitable Jobs Act (CEJA).

ComEd is continuing to promote programs that expand renewable energy sources, with a significant boom in community solar last year, and with various clean energy incentive programs to make the path to a lower carbon future – whether that includes heat pumps, electric vehicles (EVs) or beyond – more affordable and accessible for communities across its northern Illinois service territory.

ComEd is a unit of Chicago-based Exelon Corporation (NASDAQ: EXC), a Fortune 250 energy company with approximately 10 million electricity and natural gas customers in the U.S. ComEd powers the lives of more than 4 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, Instagram and YouTube.

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The Exelon Stock at the time of publication of the news with a raise of +0,06 % to 35,62EUR on Tradegate stock exchange (16. Mai 2024, 10:57 Uhr).