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ComEd’s CEO goes on charm offensive

Monday, Jan 13, 2020

* ComEd CEO Joe Dominguez is on a mission to turn around his company’s scarred image in the wake of the federal investigation. He makes some good points, but are these facts enough? Maybe, but we still don’t know what the feds have found

Whether the standard is affordability, reliability or use of clean energy, ComEd is a top performer, the envy of other utilities, even those in the Exelon family, Dominguez said. Since 2012, the utility has improved reliability by 70%, according to Dominguez, an unprecedented improvement for an industry accustomed to merely incremental changes.

He gives credit for that to ComEd employees. “Nothing prepares you for being in this chair when the workforce is going out and the weather is negative 50 degrees or when it’s super hot and seeing the day-to-day dedication of the people we have here,” he said.

Dominguez said the scandal, which has included two federal subpoenas for Exelon documents and a U.S. securities probe of its lobbying activities, shouldn’t detract from the company’s achievements. […]

Staying silent must be hard on him. At 57, Dominguez has a background that seems especially apt for ComEd’s situation. He’s a former federal prosecutor in the Eastern District of Pennsylvania. And he moved through the ranks of Exelon in general counsel and government relations roles. […]

If ComEd were a state, its electricity cost as a percent of median household income would be lower than anywhere but Utah, according to the utility. At 1.4%, the rate compares to a U.S. average of 2.3%.

* Related…

* The ICC should pull the plug on this ComEd power play: “Consumers paid public utility rates to ComEd and (downstate utility) Ameren reflecting the higher federal tax rate, and now that the federal tax rate has lowered, fairness dictates that consumers should get that money back,” Raoul said in a statement. “Allowing an unreasonable refund period of close to 40 years nearly guarantees many customers will never get their fair share of the refunds.”

- Posted by Rich Miller        

7 Comments »
  1. - Rabid - Monday, Jan 13, 20 @ 10:36 am:

    ComEd business practices are the envy of their peers


  2. - Al - Monday, Jan 13, 20 @ 10:39 am:

    Comparing ComEd rates to median income is disceptive. Their rates are comparatively high, executive pay is comparatively high and lobbying fees too. High cost producer with expensive legacy costs to account.


  3. - Chicago Cynic - Monday, Jan 13, 20 @ 11:31 am:

    ComEd delivery rates have gone up dramatically. ComEd is taking credit for low energy costs that are largely derived from fracking and competition. But I would expect no less. And frankly, there are too many distortions in this piece to pick apart but suffice it to say, I expect the Sun-Times will regret publishing this insane puff piece before too long.


  4. - Nobody Sent - Monday, Jan 13, 20 @ 11:42 am:

    Spin spin spin - despite getting caught in a long running scheme to buy legislation, we are still an honorable group just looking out for our customers.
    Unless there is a complete house cleaning of leadership, this problem won’t go away.


  5. - Chicago Cynic - Monday, Jan 13, 20 @ 11:55 am:

    Here’s a reference for the fact that ComEd delivery rates have risen 37 percent in the last six years.

    https://www.chicagobusiness.com/utilities/comed-asks-springfield-force-you-make-13-year-bet-interest-rates

    Oh, and then there’s this. ComEd overcollected nearly $400 million and they want 40 years to pay it back. We can thank them for that bit of greed as well.

    https://www.chicagobusiness.com/joe-cahill-business/icc-should-pull-plug-comed-power-play


  6. - Al - Monday, Jan 13, 20 @ 1:04 pm:

    Wow, I wish my business could overcharge customers $400 million and have 40 years interest free to pay it back.


  7. - DuPage - Monday, Jan 13, 20 @ 3:44 pm:

    Comed succeeded in stopping competition that would have lowered electricity costs in Illinois by hundreds of millions of dollars per year. The legislature should correct the situation before allowing any more rate hikes for Comed.
    https://ieefa.org/ri-clean-line-appeals-courts-ruling/


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