ComEd Report to ICC Shows Diverse Supplier Spend Reaches Record $777 Million Grid Investments Support Spend with Minority, Women and Veteran-Owned Businesses - Up 19 Percent from Prior Year
ComEd's spend with diverse suppliers in 2016 reached an all-time high of $777 million, up 19 percent over 2015 and accounting for 33 percent of ComEd's total spend of $2.3 billion as it continued smart grid and other investment programs to modernize the system serving 3.9 million customers.
A report filed today (4/17) with the Illinois Commerce Commission (ICC) shows ComEd has injected more than $5.52 billion into its supply chain in Illinois since 2011, driven largely by the smart grid program created by the Energy Infrastructure Modernization Act (EIMA). The legislation established a broad range of performance metrics for utilities, including increased spending with diverse suppliers, by at least 15 percent over 10 years. Since 2012, ComEd has exceeded that goal with a total supply chain spend in Illinois under EIMA of $4 billion, including $1.6 billion total diverse supply chain spend.
Since the smart grid program began in 2012, ComEd's diverse spend has increased by 362 percent, creating opportunities for minority-, women-, and veteran-owned businesses. In 2016, ComEd added 132 diverse suppliers, a 26-percent increase, for a total of 516 certified-diverse suppliers.
"At ComEd, we believe that our success now and into the future directly correlates to our commitment to diversity and inclusion, in all facets of our business. The diverse suppliers and vendors with whom we work on a daily basis help us meet the evolving needs of our customers and deliver excellence," said Anne Pramaggiore, president and CEO, ComEd. "Our supply chain partners are a reflection of the communities we serve. We're committed to mentoring, developing and helping these companies grow so they can create more jobs and help build stronger neighborhoods throughout our region."
On April 27, 2017 ComEd will host its 2nd Annual Supplier Diversity Awards to recognize top diverse suppliers for their high-quality performance in numerous areas, including construction and material services, professional services, environmental leadership, financial management, storm response and support and enhancing the customer experience.
Commonwealth Edison Company (ComEd) is a unit of Chicago-based Exelon Corporation (NYSE: EXC), the nation's leading competitive energy provider, with approximately 10 million customers. ComEd provides service to approximately 3.9 million customers across northern Illinois, or 70 percent of the state's population. For more information visit ComEd.com, and connect with the company on Facebook, Twitter and YouTube.