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CoMed, Inc. Release date: February 26, 2007
CHICAGO, Feb. 26: ComEd today announced a new three-year, $30 million expansion of its customer assistance and education programs that will increase financial assistance for low-income customers, working families and seniors, and broaden customer education around energy efficiency and environmental initiatives.
"With this announcement, we are beginning a major, long-term plan to provide additional resources and assistance to our customers," said ComEd Chairman and CEO Frank M. Clark. "Well before the electric rate increase took effect last month, the Illinois Commerce Commission (ICC), Senate President Emil Jones, House Minority Leader Tom Cross, members of the Illinois Legislative Black Caucus, including State Rep. Annazette Collins, Chair of the House Public Utilities Committee, State Rep. Will Davis, and other legislators, encouraged Illinois utilities to enhance customer assistance programs by passing legislation outlining a $30 million consumer benefits package. We agreed with their recommendation. These programs will significantly expand the tools available to help customers manage their bills and save energy."
In 2007, ComEd will contribute $10 million to expand assistance programs, allocating:
o $5 million to a fund that will support a range of initiatives recommended by Illinois Sen. James Clayborne and others following their meetings with stakeholders to find additional ways to assist customers through the transition. o $2 million to promote the use of energy-saving compact fluorescent light (CFL) bulbs: -- $1.5 million to provide discounts on CFL bulbs -- $500,000 to provide free CFL bulbs to low-income customers. o $1 million to the Low Income Home Energy Assistance Program (LIHEAP). In 2005 and 2006, ComEd donated more than $3 million to LIHEAP. o $1 million for the creation of the "Power Up" program, announced in partnership with the City of Chicago last week. The City also gave $500,000 to this initiative, which will provide energy assistance grants to low-income households in ComEd's service territory who are not eligible for LIHEAP. o $500,000 to support energy efficiency education programs. o $500,000 to pilot environmental programs.
The plan design for 2008 and 2009 will be determined at a later date, and will likely focus on energy efficiency and environmental programs.
Today's announcement builds on ComEd's CARE (Customers' Affordable Reliable Energy) program, which launched in July 2006. CARE already offers a number of energy-efficiency and financial assistance programs to help customers reduce bills. CARE also features a residential phase-in plan, which gives customers the choice to pay for the rate increase over time. Energy- and cost-saving information is available for customers at http://www.comedcare.com/ .
"Like the ICC, our Senate President, House Minority Leader and Black Caucus, we are concerned about the customer impact of this rate increase, particularly the most economically vulnerable," Clark said. "We've always supported customer assistance, and now we are doing even more to help our customers lower their bills and save money."
The $30 million plan will not be charged to customers in rates.
Source: ComEd
CONTACT: ComEd Media Relations, +1-312-394-3500
Web site: http://www.comedcare.com/
Company Information:
Name: CoMed, Inc.
Address: 601 Industrial Dr.
City: Hicksville
State: OH
ZIP: 43526
Country: USA
Phone: 419-542-7791
FAX: 419-542-6509
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