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Friday, March 31, 2023

Exelon’s (NASDAQ: EXC) ComEd Request ICC to Increase Electricity Delivery Charges

Exelon Corporation (NASDAQ: EXC) unit ComEd has filed a request to Illinois Commerce Commission (ICC) for an increase of $199 million in electricity delivery charges to maintain improvements in reliability for residential and commercial customers and support the transition to 100% clean energy.

While the request would raise monthly home delivery rates by about $2.20, there will be adjustments and reductions, primarily due to lower energy capacity costs, which ComEd forecasts will result in a total average monthly bill that is likely to be lower than current prices in January.

The ICC is considering a plan to advance $65 million in deferred income tax advantages to customers, which would cover 82 cents of the monthly delivery rate hike. Furthermore, capacity charges, which users pay to ensure that enough power is available when demand is highest, are forecast to drop by 65 percent this year.

Additionally, The ICC and other groups will analyze ComEd’s plan, including its actual operating expenses for 2021 and anticipated investments for 2022, over the next eight months, starting with today’s rate filing. Before adding these expenditures to customer rates that begin in January 2023, regulators must determine all of these costs are prudent and reasonable.

Furthermore, in February, ComEd’s average total monthly residential bill was $89.49, down marginally from $90 in January 2015. Even with the proposed increase in delivery charges for 2022 and before anticipated subsequent offsets, ComEd’s residential customer prices are predicted to be at least 10% lower than the average rates in the ten largest U.S. metropolitan regions in January.

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