ComEd's $10 million relief fund running out after 60,000 customers apply in first week
Nearly 60,000 customers have submitted applications since ComEd opened the window last week for the one-time grant, which was created to defray rising electric supply charges during peak air conditioning season.
'Based on the high demand seen, we anticipate the fund will soon close, and ComEd will make an announcement once funds are fully exhausted,' ComEd spokesperson Lauren Huffman said Wednesday.
Exelon, the utility's Chicago-based parent company, is donating the relief money for the fund, which is being administered through Neighborhood Housing Services of Chicago and The Salvation Army. The application process began July 7 and the agencies are currently sorting through thousands of customer requests seeking a share of the $10 million, Huffman said.
The Customer Relief Fund will provide one-time grants of up to $500 for qualifying low- to moderate income customers, and $1,000 for nonprofit organizations in northern Illinois. ComEd customers can still apply for assistance at ComEd.com/Relief, but time and the funds are both running out.
The relief targets ComEd customers at or below 300% of the federal poverty level who are in arrears. ComEd residential customers approved for the relief funds will see the money appear as a one-time credit on an upcoming bill, wiping out up to $500 in past due balances.
Grants will be awarded to qualified customers on a first-come, first-served basis, until the $10 million fund is gone, Huffman said. ComEd announced the relief fund last month, as electricity supply prices were set to rise.
The cost for an average residential customer was expected to go up $10.60 per month beginning in June, according to ComEd. The increase was caused by a higher rate ComEd will pay for electricity over the next year, a supply cost which the utility passes through to customers.
But June was hotter than normal, exacerbated by a heat dome which brought oppressive triple-digit temperatures and humidity to large swaths of the Midwest and East Coast for several weeks Chicago experienced its sixth hottest June on record, with average daily highs at 84.1 degrees – 3.7 degrees above normal, according to the National Weather Service.
The heat kept air conditioners working overtime, which in turn raised electricity demand, bringing the increased supply cost right to the bottom line on ComEd customer bills.
The supply charge generally represents about half of the monthly bill and does not benefit ComEd, which makes its profit on the delivery charges. The average residential ComEd customer paid $108 per month for the total bill, before the supply charge increased, the utility said.
PJM Interconnection, a Pennsylvania-based regional transmission organization, manages the electricity supply grid for 13 states, including ComEd's 4.2 million customers in northern Illinois. It holds an annual capacity auction for expected reserve electricity needed during peak demand, and last year those supply prices skyrocketed.
Results for the next PJM capacity auction are expected to be made public Tuesday, which will set the supply prices for ComEd and its customers for next year.
ComEd said the retirement of fossil fuel plants and rising demand have put more pressure on the grid, contributing to higher supply prices. The utility also said delays in bringing a backlog of integrating wind, solar and other renewable energy suppliers into the grid is making it harder to replace lost capacity.
Electric utilities and their customers across the country are navigating similar supply cost issues, including Ameren in downstate Illinois, where monthly bills are expected to spike 18% to 20% this summer.
Exelon donated a total of $50 million to customer relief funds through its six utility companies, including BGE in Maryland, PECO in Pennsylvania and the $10 million for ComEd in Illinois.
rchannick@chicagotribune.com
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