To patrons of Commonwealth Edison Company:
Commonwealth Edison Company (“ComEd”) hereby gives notice to the public that on April 15, 2022, it filed with the Illinois Commerce Commission (“ICC” or “Commission”) its annual formula rate update, including updated cost inputs, reconciliations of ComEd’s approved revenue requirement and return on equity, and supporting testimony and other information, all for the purpose of determining, pursuant to Section 16-108.5 of the Illinois Public Utilities Act (the “Act”), updated rates for delivery services applicable throughout ComEd’s service territory in northern Illinois to be applicable beginning with the first monthly billing period of 2023.
As provided in Section 16-108.5 of the Act, the updated costs are based on final historical cost data for calendar year 2021 reflected in ComEd’s most recently filed annual FERC Form 1, plus projected plant additions for calendar year 2022, as well as the associated adjustments to accumulated depreciation (change in depreciation reserve), depreciation expense, and accumulated deferred income taxes. In addition, ComEd’s 2021 actual costs, which are now known, are reconciled with the corresponding costs that had been used as part of the prior formula rate update filing. Those updated costs and other inputs and reconciliations collectively result in a distribution revenue requirement on which new delivery services rates are to be based (referred to in the filing as the “2023 Rate Year Net Revenue Requirement”) of $2,910,460,000. This is an increase of $198,755,000 from the revenue requirement approved by the ICC in last year’s formula update, ICC Docket Number 21-0367.
For residential customers receiving bundled fixed price electric service from ComEd, the delivery services charges are only a portion of the total bill. The remaining portion includes the cost of the electricity supply and other services, which are subject to the procurement process established by Section 1-75 of the Illinois Power Agency Act and the provisions of Section 16-111.5 of the Public Utilities Act and/or to regulation by the Federal Energy Regulatory Commission. Using rates applicable with the February 2022 billing period for such other components, the estimated total bill impacts of changes in the delivery component are provided herein. Increases are denoted by a + sign and decreases are denoted by a – sign.
For such customers, the delivery portion of electric bills represents approximately 40% of the total electric bill, on average, while the supply portion accounts for about 41%, the transmission portion accounts for approximately 9% and other charges such as taxes account for the remaining 10%. Using these electricity supply and other charges, the updated rates for the delivery portion result in an overall change in the total residential bills, on average, of approximately $2.20 per month or an estimated 2.7%. Total bill impacts for residential customers vary by delivery class and electric usage. For example, the estimated total bill impact, on average, for multi-family residential customers without electric space heat utilizing on average 338 kilowatt-hours (“kWhs”) per month, is $1.23 per month or 2.7%. Likewise, the estimated total bill impact, on average, for single-family residential customers without electric space heat utilizing on average 731 kWhs per month, is $2.74 per month or 2.9%. Furthermore, the estimated total bill impact, on average, for multi-family residential customers with electric space heat, utilizing on average 791 kWhs per month, is $2.08 per month or 2.4%. Additionally, the estimated total bill impact, on average, for single family residential customers with electric space heat, utilizing on average 1,623 kWhs per month, is $3.86 or less than 2.3%. ComEd does not estimate total bill impacts for residential customers supplied by Retail Electric Suppliers.
The updated delivery service rates for nonresidential customers in the Watt-Hour and Small Load delivery classes (100 kilowatts (“kW”) or less of demand), with varying usages result in an overall average percentage change in the total bill of +2.0% and +1.8%, respectively. Nonresidential customers with larger electric loads (greater than 100 kW) have a wide range of electric load characteristics in addition to electricity supply costs that cannot be reasonably estimated; therefore, the overall effect of the updated delivery service rates on an electric bill for such customers cannot be determined.
The updated delivery service rates include ComEd’s updated costs of delivering electricity through its distribution system and apply to all ComEd customers independent of whether electricity supply is procured and provided by ComEd or by a third party (i.e., a Retail Electric Supplier). These updated rates will take effect beginning with the first day of the January 2023 monthly billing period.
A copy of the materials filed with the Commission and supporting data and documents may be inspected by any interested party at ComEd’s office located at Three Lincoln Centre in Oakbrook Terrace, Illinois. In addition, Commonwealth Edison Company will place an electronic version of this Public Notice with estimated bill impacts on its Internet website www.ComEd.com.
Customers are advised that the Commission may alter or amend the rates after hearings held pursuant to Section 16-108.5 of the Act and 83 Illinois Administrative Code Part 200, and may increase or decrease individual rates in amounts other than those requested by ComEd.
All parties interested in this matter may obtain information with respect thereto either directly from ComEd or by addressing the Chief Clerk of the Illinois Commerce Commission, 527 East Capitol Avenue, Springfield, Illinois 62706.
COMMONWEALTH EDISON COMPANY
By: T. R. Donnelly
President and COO