Latest news with #CustomerReliefFund
Yahoo
20 hours ago
- Business
- Yahoo
Amid high energy bills, Moore touts $19 million in ratepayer relief from Exelon
Gov. Wes Moore (D), in Annapolis Thursday, touts a $19 million donation from Exelon to help low- and middle-income ratepayers hit by steadily rising power bills. (Photo by Christine Condon/Maryland Matters) The parent company of BGE, Pepco and Delmarva Power will distribute $19 million to help its low- and middle-income customers pay their bills, as rates continue to rise, it announced Thursday. Exelon's one-time donation to its Customer Relief Fund will be split between local nonprofits to actually distribute to customers in need. It's part of a larger $50 million Exelon donation spread out between states the company serves. During an event Thursday at the Salvation Army of Annapolis, Maryland Gov. Wes Moore (D) cheered the Exelon program and added that he hopes to take future steps regarding climbing energy costs. 'This is not a final step, but it's an important continuation of the work that we are doing to provide relief to Marylanders who need it the most,' Moore said. 'Maryland is ready to lead the country in what it means to put our people first.' Consumer advocates welcomed the announcement, but put it in perspective. 'It's welcome news that the Exelon Corp. is donating $19 million to direct relief for Maryland ratepayers. But let's not forget that Exelon and its subsidiaries have been driving affordability problems in the first place through relentless rate hikes,' said Emily Scarr, a senior advisor for the nonprofit Maryland PIRG, which advocates for ratepayers. She argued that Exelon's rate hikes, outpacing inflation, have led to 'massive profits and unaffordable home heating and cooling.' In a news release announcing the program, Exelon President and CEO Calvin Butler blamed the high energy bills on 'increased supply costs.' 'The Customer Relief Fund, in addition to our existing year-round programs supporting customers with energy assistance, once again demonstrates Exelon's commitment to our communities,' Butler's statement said. 'We continue to work with federal, state and local officials to develop long-term solutions that ensure customers affordable, reliable and sustainable energy.' The moves come as Maryland ratepayers brace for the latest blow to their monthly utility bills. In the coming months, customers will feel the effects of a record-setting energy capacity auction at PJM Interconnection, which operates the electricity grid serving Maryland, Washington D.C. and a dozen other states. As a result of the auction, in the year beginning June 1, utilities and retail suppliers of energy will pay $14.7 billion for electric capacity, a jump from the $2.2 billion the previous year — which will flow down to consumers. Some are blaming PJM for botching the auction by failing to accurately evaluate the amount of power already available, driging up costs. They also say its policies have constrained supply at a time of increasing demand, by preventing renewable energy from coming online quickly. Moore, standing beside BGE and Pepco officials during his remarks, zeroed in on PJM. 'It is unacceptable that inefficient and outdated processes at PJM are leading to bill increases — not just in Maryland, but across all 13 states and D.C.,' he said. But ratepayer advocates argue that utility companies, including Exelon, have contributed to the energy affordability crisis as well, in part because of overzealous infrastructure spending. SUBSCRIBE: GET THE MORNING HEADLINES DELIVERED TO YOUR INBOX They point to the 'distribution' charges on electric bills, which fund substations, poles, wires, trucks and other equipment for their local utility. Between 2010 and 2024, the distribution rates for Exelon utilities Delmarva Power and Pepco more than doubled, well outpacing the rate of inflation; by comparison, Potomac Edison rates increased with inflation, according to a June report from the Maryland Office of People's Counsel. Whatever the cause, prices keep rising, and customers keep falling farther behind: At BGE, for example, residential customers were recently $171 million in arrears, compared to $97 million just last June. At Thursday's event in Annapolis, BGE CEO Tamla Olivier said that addressing the high energy burden in Maryland will require participation from a number of stakeholders. 'We're not going to be able to solve this as a utility, the state alone or competitive markets alone. It will take all of us together to make sure we are serving the needs of our customers,' Olivier said. United Way of Central Maryland will administer $15 million of Exelon's Customer Relief Fund for BGE customers, and the Salvation Army will administer $2.5 million for Pepco customers. Delmarva Power customers will receive $1.5 million, distributed by the Harford Community Action Agency, Shore UP! and the Salvation Army. Eligibility requirements and distribution methods will differ from utility to utility, said Exelon's news release, which encouraged customers to visit their local utility's website for more details. It said eligible customers 'may see as much as several hundred dollars in relief.' Franklyn Baker, president and CEO of the United Way of Central Maryland, said energy bills have been a frequent source of calls to its 211 hotline for assistance with food, health care, rent or mortgage, utility or other bills, and child care. 'We continue to see a rise in the number of calls to 211 related to energy assistance,' Baker said. 'And especially as summer heat intensifies everyday costs rise, and the cost of utilities will be a burden that many in our community will not be able to carry, including some — listen to this — who have never applied for assistance before.' Maryland electric customers can expect to pay anywhere from $4 to $18 a month, according to the Office of People's Counsel report. It said SMECO customers will see increases starting June 1, while Pepco and Delmarva Power customers will see bills go up in August and Potomac Edison customers will get hit in their October bills. The Exelon fund is not the only effort to shave costs for customers. The Maryland Public Service Commission recently ordered BGE to spread its costs increases over several months to blunt the impact And state lawmakers in the last legislative session tapped a renewable energy fund for $200 million, which will be used top give credit directly to ratepayers. The one-time payments are expected to average $80, split between a bill in the summer and another in the winter. The rebate was part of a larger package of energy reforms, which also created a 'fast-track' permit process at the PSC for new power generation and battery energy storage technology. Moore, who who signed the bill in May, said that the newly announced $19 million 'goes hand in hand' with the legislature's rebate. But in response to a question from a reporter, Moore said that lawmakers 'didn't go far enough' to incentivize new power generation, noting that a bill that his administration introduced, to boost nuclear power in the state, did not advance. 'We introduced legislation this year that would have allowed more nuclear into the state, that would have allowed nuclear to be seen as a clean energy source, which it is,' Moore said. 'I'm proud of the work we did in partnership with the legislature, but I want to be crystal clear: It did not go far enough.'
Yahoo
2 days ago
- Business
- Yahoo
ComEd unveils $10 million fund to help Illinois residents with energy costs
FORD HEIGHTS, Ill. (WTVO) — ComEd has announced a one-time, $10 million Customer Relief Fund available to eligible Illinois residents and businesses to offset rising capacity charges. On June 1st, ComEd is raising the capacity charge, the cost paid for companies to store extra energy in case of a spike in demand. According to ComEd, 'Energy prices are driven by supply and demand. Large power generators sell this electricity supply to ComEd and we pass this cost directly to you. Because of factors like extreme weather, spikes from high energy users like data centers, and other factors, demand is outpacing supply, so costs are getting more expensive. Due to these factors, starting in June 2025, the will increase for all ComEd customers.' Capacity prices are extra payments consumers pay power plant operators to have enough reserve electricity available in the event of a sudden spike in demand. The Citizens Utility Board estimated each household's bill would go up approximately $10 a month. However, CUB explained that ComEd will not profit from the price increase, since the cost is passed along to the utility via PJM Interconnect. Utility companies are required to pass supply costs onto consumers. The Customer Relief Fund will become open to applications starting July 7th. To lessen the impact of the supply price increase, ComEd recommends practicing energy efficiency at home, considering a community solar deal to help ease costs, or installing solar panels. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Business Wire
2 days ago
- Business
- Business Wire
'Commitment to Our Communities:' Exelon Steps in to Provide $50 Million Customer Relief Fund for Customers Struggling with Higher Energy Supply Costs
CHICAGO--(BUSINESS WIRE)--Exelon (Nasdaq: EXC) today announced a $50 million Customer Relief Fund to help low- and middle-income (LMI) customers struggling as energy supply costs escalate this summer. Exelon's local energy companies – Atlantic City Electric, BGE, ComEd, Delmarva Power, PECO and Pepco – will join with trusted local nonprofits to determine customer eligibility and administer relief. Each nonprofit will receive a portion of the $50 million commitment as a one-time charitable contribution from Exelon. Beginning in early July, customers of Atlantic City Electric, BGE, ComEd, Delmarva Power and Pepco will be able to apply for assistance through the Customer Relief Fund. Customers of PECO in the Philadelphia area will be able to apply in August. Qualifying customers may see as much as several hundred dollars in relief. The fund is a temporary, one-time assistance program designed to help manage the impact of rising energy supply costs as demand increases and supply is not there to meet it. Although all customers are affected by these increases, the fund is designed to provide support to those who may be most in need. While Exelon does not control energy supply costs, the company is committed to advocating for customers and working to find solutions with those who do. 'Exelon understands that high energy bills, caused by increased supply costs, are extremely stressful for low- and middle-income customers – which includes many seniors, small business owners and families experiencing challenges,' said Exelon President and CEO Calvin Butler. 'The Customer Relief Fund, in addition to our existing year-round programs supporting customers with energy assistance, once again demonstrates Exelon's commitment to our communities. We continue to work with federal, state and local officials to develop long-term solutions that ensure customers affordable, reliable and sustainable energy.' How the Customer Relief Fund Will Work Exelon is making a one-time charitable contribution totaling $50 million to trusted community nonprofits to assist customers. In these challenging times, Exelon hopes this contribution will catalyze additional philanthropic giving to support communities. Details regarding administration of the Customer Relief Fund, including eligibility and disbursement of relief, will vary by operating company and its alliance with local nonprofits. Customers are encouraged to visit the websites of their local energy companies to learn how they can secure local support. Helping Customers Cope Though the Customer Relief Fund is a temporary program designed to address the current needs of customers, it is a key part of Exelon's and its local energy companies' comprehensive efforts helping customers afford and manage energy costs, including: Energy efficiency programs to help customers reduce energy consumption. Working with state and local governments to develop innovative programs that provide customers access to additional relief for high energy costs. Budget billing and flexible payment options to help customers manage costs, especially during higher usage periods. In addition to these short- and medium-term efforts to help customers cope with higher energy costs, Exelon continues working with federal, state and local officials to develop long-term solutions that deliver reliable and affordable energy to customers, including bringing more electricity generation online quickly through reforms to promote the re-use of retiring or retired generation sites. By accelerating the delivery of new, clean sources of power – while supporting local communities and embracing best practices from other parts of the country – we can work with customers to decrease overall electricity demands when the grid is stressed. Exelon remains committed to serving customers and communities in times of need. The Customer Relief Fund is part of Exelon's broader support for customers, which in 2024 included $492.1 million in energy assistance programs serving 520,000 customers and nearly $1 billion in energy efficiency programs to help customers save energy and money. Though energy costs continue rising, Exelon customers have seen rates 21 percent below the largest U.S. cities, while also experiencing a 35 percent improvement in reliability because of our grid investments. About Exelon Exelon (Nasdaq: EXC) is a Fortune 200 company and one of the nation's largest utility companies, serving more than 10.7 million customers through six fully regulated transmission and distribution utilities — Atlantic City Electric, BGE, ComEd, Delmarva Power, PECO, and Pepco. Exelon's 20,000 employees dedicate their time and expertise to supporting our communities through reliable, affordable and efficient energy delivery, workforce development, equity, economic development and volunteerism. Follow Exelon on X, @Exelon.
Yahoo
2 days ago
- Business
- Yahoo
"Commitment to Our Communities:" Exelon Steps in to Provide $50 Million Customer Relief Fund for Customers Struggling with Higher Energy Supply Costs
In early July and August, Atlantic City Electric, BGE, ComEd, Delmarva Power, PECO and Pepco low- and middle-income customers can begin applying for relief to ease the expected impact of higher summer energy supply costs. Trusted local nonprofits to join with Exelon's local energy companies and administer relief thanks to charitable contributions from Exelon. CHICAGO, June 12, 2025--(BUSINESS WIRE)--Exelon (Nasdaq: EXC) today announced a $50 million Customer Relief Fund to help low- and middle-income (LMI) customers struggling as energy supply costs escalate this summer. Exelon's local energy companies – Atlantic City Electric, BGE, ComEd, Delmarva Power, PECO and Pepco – will join with trusted local nonprofits to determine customer eligibility and administer relief. Each nonprofit will receive a portion of the $50 million commitment as a one-time charitable contribution from Exelon. Beginning in early July, customers of Atlantic City Electric, BGE, ComEd, Delmarva Power and Pepco will be able to apply for assistance through the Customer Relief Fund. Customers of PECO in the Philadelphia area will be able to apply in August. Qualifying customers may see as much as several hundred dollars in relief. The fund is a temporary, one-time assistance program designed to help manage the impact of rising energy supply costs as demand increases and supply is not there to meet it. Although all customers are affected by these increases, the fund is designed to provide support to those who may be most in need. While Exelon does not control energy supply costs, the company is committed to advocating for customers and working to find solutions with those who do. "Exelon understands that high energy bills, caused by increased supply costs, are extremely stressful for low- and middle-income customers – which includes many seniors, small business owners and families experiencing challenges," said Exelon President and CEO Calvin Butler. "The Customer Relief Fund, in addition to our existing year-round programs supporting customers with energy assistance, once again demonstrates Exelon's commitment to our communities. We continue to work with federal, state and local officials to develop long-term solutions that ensure customers affordable, reliable and sustainable energy." How the Customer Relief Fund Will Work Exelon is making a one-time charitable contribution totaling $50 million to trusted community nonprofits to assist customers. In these challenging times, Exelon hopes this contribution will catalyze additional philanthropic giving to support communities. Details regarding administration of the Customer Relief Fund, including eligibility and disbursement of relief, will vary by operating company and its alliance with local nonprofits. Customers are encouraged to visit the websites of their local energy companies to learn how they can secure local support. Helping Customers Cope Though the Customer Relief Fund is a temporary program designed to address the current needs of customers, it is a key part of Exelon's and its local energy companies' comprehensive efforts helping customers afford and manage energy costs, including: Energy efficiency programs to help customers reduce energy consumption. Working with state and local governments to develop innovative programs that provide customers access to additional relief for high energy costs. Budget billing and flexible payment options to help customers manage costs, especially during higher usage periods. In addition to these short- and medium-term efforts to help customers cope with higher energy costs, Exelon continues working with federal, state and local officials to develop long-term solutions that deliver reliable and affordable energy to customers, including bringing more electricity generation online quickly through reforms to promote the re-use of retiring or retired generation sites. By accelerating the delivery of new, clean sources of power – while supporting local communities and embracing best practices from other parts of the country – we can work with customers to decrease overall electricity demands when the grid is stressed. Exelon remains committed to serving customers and communities in times of need. The Customer Relief Fund is part of Exelon's broader support for customers, which in 2024 included $492.1 million in energy assistance programs serving 520,000 customers and nearly $1 billion in energy efficiency programs to help customers save energy and money. Though energy costs continue rising, Exelon customers have seen rates 21 percent below the largest U.S. cities, while also experiencing a 35 percent improvement in reliability because of our grid investments. About Exelon Exelon (Nasdaq: EXC) is a Fortune 200 company and one of the nation's largest utility companies, serving more than 10.7 million customers through six fully regulated transmission and distribution utilities — Atlantic City Electric, BGE, ComEd, Delmarva Power, PECO, and Pepco. Exelon's 20,000 employees dedicate their time and expertise to supporting our communities through reliable, affordable and efficient energy delivery, workforce development, equity, economic development and volunteerism. Follow Exelon on X, @Exelon. View source version on Contacts Timothy Stokes312-394-7417 Media Melden Sie sich an, um Ihr Portfolio aufzurufen.
Yahoo
2 days ago
- Business
- Yahoo
ComEd Announces $10 Million Relief Fund to Help Reduce Burden of Rising Summer Energy Bills
New one-time fund to help low-income ComEd residential customers and nonprofit organizations across northern Illinois CHICAGO, June 12, 2025--(BUSINESS WIRE)--ComEd today joined community partners in announcing that $10 million in bill assistance will be made available to help income eligible customers manage the burden of rising summer energy costs. The Customer Relief Fund, supported by Exelon, ComEd's parent company, will provide one-time grants of $500 for qualifying low- to moderate-income customers, and $1,000 for nonprofit organizations in northern Illinois. Customers can apply for assistance beginning July 7 at "Rising energy supply costs present challenges to customers in many parts of the country, and we at ComEd are proud to do our part to bring a measure of relief to our customers in northern Illinois," said Gil C. Quiniones, President and CEO, ComEd. "The Customer Relief Fund is expected to bring immediate billing relief to thousands of ComEd customers, and it builds on the ongoing programs and relationships we have for lowering energy costs and delivering critical financial assistance to those who are struggling most." ComEd announced the fund at the Cornerstone Community Development Corporation in Ford Heights, IL, where representatives were on hand to connect ComEd customers to currently available bill-assistance and energy-efficiency programs. Company officials were joined by The Salvation Army and the Neighborhood Housing Services of Chicago, two agencies selected to administer the fund directly to customers. "We are deeply grateful to Exelon and ComEd for their unwavering support in providing financial relief to underserved residents in our region," said Angelia Smith, Executive Director, Cornerstone Community Development Corporation. "Every day, we witness individuals and families struggling to meet life's basic necessities. This vital lifeline will not only help them navigate these difficult times but also empower them to regain stability and hope for a brighter future. Together, we can make a meaningful difference in the lives of those who need it most." "NHS is working to ensure all Illinois residents—especially those in under-resourced communities—receive the support they need to manage rising energy costs," said Anthony E. Simpkins, President and CEO of Neighborhood Housing Services of Chicago. "At the same time, we're focused on long-term, reliable, renewable energy solutions as we design, build, and explore new models of affordable housing for the future." "At The Salvation Army, we believe every family deserves to live in a home where basic needs like electricity aren't a source of stress or hardship," said Lt. Colonel Jonathan Rich, The Salvation Army North and Central Illinois Divisional Commander. "The Customer Relief Fund will make a real difference for people, and we're proud of our collaboration with ComEd to keep working toward long-term solutions that bring stability and dignity to communities across northern Illinois." About the Customer Relief Fund The Customer Relief Fund will provide timely relief to ComEd customers impacted most by rising energy costs brought on by increased energy use that comes with the summer cooling months, as well as a capacity charge increase brought on by the recent PJM auction that was impacted by power plant retirements, increased load and more frequent instances of extreme weather. As a result, ComEd bills are expected to increase between 10% to 15% this summer, with the average residential customer seeing an increase of $10.60 a month on the supply portion of the bill, depending on usage amounts. The capacity charge is passed through with no markup from or profit to ComEd. The fund also aims to serve as a bridge to the end of LIHEAP's funding season late this summer, and the launch of ComEd's forthcoming Low-Income Discount program in January 2026. The fund supplements ComEd's existing menu of bill assistance and energy management options, which last year alone connected more than 229,000 customers to $133 million in various bill-assistance options. To be eligible for the funds, residential customers must be in arrears and be at or below 300% of the Federal Poverty Level which, for a family of four, is $32,150. Nonprofit organizations must also be in arrears. For a list of all bill-support options available to customers, visit "I want to extend my heartfelt gratitude to Exelon and ComEd for their generous support and commitment to our community during these challenging financial and political times," said Debbie Meyers-Martin, State Representative, 38th District. "As many residents face unprecedented financial hardships, the critical financial relief provided by these companies is a lifeline for those struggling to keep up with their utility bills. Their proactive response exemplifies corporate social responsibility and underscores the importance of partnership in serving our community's needs. Together, we are working towards a brighter, more stable future for all our constituents." "Our residents have faced numerous challenges recently, and the ongoing battle with water purity issues has only compounded their stress. Adding worries about utility bills on top of that would be overwhelming for many families," said University Park Mayor Joseph Roudez. "I sincerely appreciate Exelon and ComEd for their innovative efforts to provide our residents with financial relief. Their support is a beacon of hope during these trying times, helping to alleviate some of the burdens our community faces." ComEd is a unit of Chicago-based Exelon Corporation (NASDAQ: EXC), a Fortune 200 energy company serving more than 10.7 million electricity and natural gas customers – the largest number of customers in the U.S. ComEd powers the lives of more than 4 million customers across northern Illinois, or 70 percent of the state's population. For more information visit and connect with the company on Facebook, Instagram, LinkedIn, X, and YouTube. View source version on Contacts ComEd Media Relations312-394-3500 Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
