ICC Approves ComEd Plan to Pass Along Tax Cut Savings to Customers

Decrease to save average residential ComEd customer $2-$3 on monthly
bill

CHICAGO–(BUSINESS WIRE)–The Illinois Commerce Commission (ICC) today approved ComEd’s petition
seeking approval to pass along approximately $200 million in tax savings
to its customers in 2018. ComEd residential customers can expect to see
an estimated $2-$3 decrease on the average monthly bill specifically
related to the tax savings.

ComEd’s voluntary proposal was prompted by the Tax Cuts and Jobs Act
(TCJA) that went into effect Jan. 1, 2018. The new law decreased the
corporate tax rate from 35 percent to 21 percent, reducing the amount of
federal income tax ComEd will pay and creating savings that it is
passing along to customers. ComEd expedited the filing of its plan with
the ICC and the Commission’s prompt response will enable customers to
see the savings beginning in February. Without action by ComEd,
customers would not realize savings from the tax cut until 2020.

“The new tax plan presented an important opportunity to work with our
regulators and stakeholders to produce a solution that accelerates the
delivery of real savings to our customers,” said Anne Pramaggiore,
president and CEO, ComEd. “We’re grateful to the ICC for their rapid
action and the positive outcome.”

With the enactment of the Smart Grid Law in 2011, the Illinois General
Assembly established a performance-based formula ratemaking model that
ensures cost savings such as those incurred through TCJA are passed on
to ComEd customers. ComEd is nearing completion of the smart grid
program and will complete the installation of nearly 4 million smart
meters this year. The utility is delivering record reliability, with a
50-percent reduction in outages, shorter outage duration and the highest
customer satisfaction on record. Total customer bills remain stable and
residential rates, through June 2017, were nearly 20 percent below the
average of the 10 largest American cities.

Commonwealth Edison Company (ComEd) is a unit of Chicago-based Exelon
Corporation (NYSE: EXC), the nation’s leading competitive energy
provider, with approximately 10 million customers. ComEd provides
service to approximately four million customers across northern
Illinois, or 70 percent of the state’s population. For more
information visit ComEd.com,
and connect with the company on Facebook,
Twitter
and YouTube.

Contacts

ComEd Media Relations
312-394-3500