Exelon - Commonwealth Edison

Chicago's Commonwealth Edison (ComEd) is a provider of energy services. ComEd's parent company, Exelon, was formed from the merger of Chicago-based Unicom and Philadelphia-based PECO Energy. ComEd is a utility service corporation, regulated by the State of Illinois. As one of the largest utility companies in Illinois, ComEd played a key role in the negotiations of the Illinois Electric Service Customer Choice and Rate Relief Law of 1997. In the fall of 2003, Exelon, a parent company of ComEd, advocated legislation to both accelerate the ICC's approval of their merger with Illinois Power and to authorization a rate increase. However, when the legislation failed, the merger was not completed. ComEd no longer generates its own power; it buys power from others and resells it. In late 2005, Com Ed sought approval from the Illinois Commerce Commission to buy power through auction. The results of the auction, held in September, 2006, are predicted to indicate rate increase of 20%-30% for residences and upwards of 80% for some businesses. When legislators floated a proposal to freeze rates for another 3 years, Com Ed issued warnings that a freeze would put it in bankruptcy. Com Ed aired extensive TV ads touting the auction as a pathway to reliability.

Commonwealth Edison is a career patron of Senate President Emil Jones (D), Senate Republican Leader Frank Watson (R), and House Republican Leader Tom Cross (R).

From January 1, 1993 through June 30, 2006, Commonwealth Edison gave $2,429,000 to candidates for Illinois statewide constitutional and legislative office, 53% of which was contributed to Republicans.

Last revised September 2006.