ComEd says smart grid investment providing tangible benefits
April 20, 2016
ComEd says its $2.6bn smart grid investment plan is delivering tangible benefits to customers through greater power reliability, energy savings, economic development, community investments and financial assistance.
Its 2016 Smart Grid Progress Report highlights the utility’s work building upon the smart grid foundation driving towards the future with clean technologies, more customer choices and greater savings.
“Since the launch of the smart grid programme, we have been dedicated to ensuring that smart grid investments are bringing the value we promised to our customers, state and communities,” said Anne Pramaggiore, president and CEO of ComEd. “Our investments to modernise and strengthen ComEd’s power delivery system have set records and exceeded expectations in several areas including system reliability, customer satisfaction, job creation, economic development and supplier diversity spend. We are proud of these results and look forward to building on the smart grid platform bringing even greater services and value to our customers in the future.”
The Smart Grid Law, passed by the Illinois General Assembly in 2011, is a ten-year grid-strengthening and modernisation effort that ComEd is delivering on budget and ahead of schedule.
ComEd deployed a total of $2.4bn in capital investments in 2015, the largest in the company’s history. Smart grid investments hit $663m and more than two million of its customers now have smart meters.
More than 4.8 million avoided customer interruptions since 2012, with an associated $1.1bn in societal savings.
Powering economic development in Illinois, 4500 new jobs were created, $4bn spent with local suppliers and $1.6bn with diverse suppliers.
ComEd’s smart grid programme also helped Illinois achieve its recent ranking as number two in the USA for overall smart grid efforts and number one for forward-looking policy support.
ComEd has distributed $40m in financial assistance through its Care programmes, with another $10m committed in 2016.
The company’s Smart Ideas energy efficiency programme saves ComEd customers $1.7bn on their electric bills, says the report.