ComEd IL Energy And The Federal Investigation
Com Ed filed a $199million general rate increase earlier this year. This will increase the average household’s electricity bill by 25 cents per month. Commercial customers will pay for the majority of the cost.
Although the company hasn’t been accused of any criminal offense, the company is undergoing an investigation by federal agents who raided the City Club of Chicago and WBEZ, a public affairs TV station in May. According to a source who is familiar with the investigation, the investigators were looking to find evidence related to Com Ed.
Questions have been raised regarding the contractors of Com Ed and their relationships to lawmakers as a result of the investigation. One contractor has connections to former Illinois first lady Barbara Doherty and Chicago Mayor Richard Daley. There are also ties to Sandoval, a former Republican congressman who was involved in the recent election and to at least one official in the ongoing federal investigation.
Embedding clout-heavy hires into government agencies is one method that contractors and corporations can gain legislative favors. For instance, Doherty was once president of the City Club, a public affairs club that is home to politicians from across the nation. Doherty hasn’t responded to calls from WBEZ. WBEZ is still investigating Doherty’s connections to the company.
ComEd introduced an unpopular annual formula rate-setting process for formula rates in 2011. The Illinois Commerce Commission (ICC), which was responsible for setting rates, had no control over the spending of the company. The company could set rates based on the formula that included delivery rates and the cost of electricity. This system is set to expire after the end of this year. The company is currently submitting its final rate to the system.
ComEd is the sole electric utility in Chicago, and serves 70 percent of the state’s population. The company will also increase rates to fund energy efficiency programs. The rate hike will be greater than $35 million for commercial and residential customers. The company was awarded the Illinois Governor’s Sustainability Award. The smart grid allows the company’s integration of renewable energy sources and reduce fossil fuels. It is also a leader in economic development programs.
ComEd offers electricity to 3.8million customers in Illinois. It is an affiliate of Exelon, a publicly traded utility. The company offers a variety of supply plans, such as a stable rate, a variable rate or an default rate. These options differ in price and commitment time. It is recommended that consumers compare the company’s rates with those of other suppliers.
The Climate and Equitable Jobs Act that was passed in the summer of 2013 it puts Illinois on the path to achieving 100 renewable energy by 2050. It was enacted by Gov. J. B. Pritzker, who also holds an interest in the company’s future. The Illinois legislature has approved rebates that will allow ComEd to achieve its goal of 1,000,000 electric vehicles by 2030.
The Edison Electric Institute has awarded the utility two Emergency Recovery Awards. These awards recognize electric companies’ efforts in helping customers during times of crisis. The agency also presented ComEd with its EEI Safety Achievement Award.