ComEd and ICC joins forces towards FEJA agenda. Courtesy of Pixabay.com
ComEd recently filed a report with the Illinois Commerce Commission for the projected customer rate changes in connection with the state's Future Energy Jobs Act (FEJA).
The FEJA, which was passed by the Illinois General Assembly and was signed into law by Gov. Bruce Rauner, will protect customers from suffering bill increases past a certain point.
The projected impact to customers from the FEJA is to be less than the required $0.25 monthly increase limit for residential customers, and 1.3 percent for those who are non-residential. If customer impacts exceed the allowed limits, there will be mitigation actions taken.
FEJA is expected to help Illinois increase its energy efficiency, create jobs, save more than $4 billion for consumers and reduce carbon dioxide emissions.
"We are fortunate that our elected leaders had the vision to craft legislation that delivers such economic and environmental benefits to our customer while preserving competitive rates," Fidel Marquez, senior vice-president of governmental and external affairs at ComEd, said.
The low energy prices in Illinois are part of the reason that customers will be seeking $2 savings per month through the end of this year.
Illinois residential electricity costs are 20 percent lower than the average of the 10 largest cities in the U.S.