The Illinois Commerce Commission approved ComEd‘s filing to accelerate smart meter installation plans. As a result, the installation of more than four million smart meters throughout ComEd’s service territory will be complete by 2018, three years in advance of the originally scheduled 2021 completion date and will accelerate $170 million in customer savings.
To date, nearly 300,000 smart meters have been installed in the Chicago area.
ComEd customers will more rapidly gain benefits offered by smart meters including new tools to better manage their electricity consumption and programs such as Peak Time Savings, which will reward customers for reducing their energy use during peak usage times. Smart meters provide customers direct, 24/7 access to information on their individual energy consumption.
This information can help customers customize their energy use and make informed decisions about how and when they would best benefit from using the electrical devices in their homes.
As a result of the Energy Infrastructure Modernization Act (EIMA), ComEd is investing $2.6 billion into one of the nation’s largest grid modernization programs, and a critical piece of these investments is the deployment of over 4 million smart meters.