1. ComEd ranked number one for outages compared to similar utilities. 2. Outage frequency improved over 50% since 2012, duration by 20%. 3. Investments aimed at grid improvements support growing electrification needs. 4. ComEd's reliability improvements saved customers over $4.3 billion. 5. Exelon Corporation (EXC) serves over 10.5 million electricity customers.
ComEd’s reliability improvements may lead to increased customer satisfaction, boosting EXC's valuation. Past performance shows strong customer retention correlating with reliability metrics.
The article highlights essential improvements in ComEd's services, impacting EXC's operational outlook and potential growth. Continued reliability could influence EXC's competitive edge in the utility sector.
Sustained reliability can enhance EXC’s market position over the long term, especially with increasing electrification demands.
Investments in grid produce nation's top reliability
In a benchmark study of ComEd, compared to similar utilities, the utility was ranked number one in terms of how low the frequency and duration of outages were for customers. Recent metrics that reflect the frequency of outages for ComEd customers have improved by more than 50% compared to 2012 and earlier. Additionally, metrics that reflect the duration of outages have improved by approximately 20% over the same timeframe, meaning customers experience shorter interruptions when service is disrupted.
"Our customers count on ComEd to deliver world-class reliability to meet their growing electrification needs," said ComEd President and CEO Gil Quiniones. "Our performance on reliability and resilience is the result of targeted investments, tailored to address the growing challenges the grid faces from extreme weather, increasing load demands and cybersecurity. We will continue to take the steps necessary for the 4.2 million customers we are privileged to serve."
ComEd customers have seen continuous improvement in grid reliability performance in recent years. Since ComEd started smart grid improvements in 2012, it has improved overall reliability by more than 57 percent, helping customers avoid nearly 24.7 million customer interruptions and save more than $4.3 billion in outage-related costs.
The panel of peer companies in the study consists of publicly held utilities that primarily serve one million or more customers and have transmission and distribution operations. The primary sources of data come from multi-utility panel surveys conducted by reputable companies, regulatory reports and the U.S. Energy Information Administration.
ComEd is a unit of Chicago-based Exelon Corporation (NASDAQ:EXC), a Fortune 200 energy company serving more than 10.5 million electricity and natural gas customers – the largest number of customers in the U.S. ComEd powers the lives of more than 4.2 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, Instagram, LinkedIn, X, and YouTube.
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