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Regulatory approval of a sizeable, long-lived infrastructure project reduces execution risk and expands the regulated asset base, which historically supports earnings and dividend visibility for EXC. While near-term stock moves may be muted, the extended capex plan could contribute to higher valuation multiples over time as the project progresses.
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ICC approved ComEd's Kishwaukee Area Reliability Extension (KARE) project in DeKalb County to boost grid reliability and meet growing demand, including a 6-mile 345 kV double-circuit line and a new 345/138 kV substation. A routing study over a 23-square-mile area guided routes with Burns & McDonnell to minimize land impact. The plan also supports renewable interconnections and marks the first ICC siting approval since 2017's Grand Prairie Gateway.
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