ComEd (Commonwealth Edison)

What ComEd (Commonwealth Edison) does

ComEd (Commonwealth Edison Company) is a regulated electric utility serving approximately 3.8 million customer accounts across northern Illinois, including the Chicago metropolitan area, operating as a wholly-owned subsidiary of Exelon Corporation (NASDAQ: EXC), the largest regulated utility holding company in the United States. Founded in 1907 and headquartered in Chicago, ComEd operates as a state-regulated monopoly under the oversight of the Illinois Commerce Commission, holding exclusive franchise rights to distribute electricity within its certificated service territory. The company's core technology is a transmission and distribution grid that is undergoing a $15.3 billion four-year modernization cycle (2028-2031 plan) to address severe-weather resilience, renewable energy integration, vehicle-to-grid support, and surging data center loads exceeding 30 GW of connection requests.

The business model is a regulated utility revenue structure in which delivery charges are tariff-based, energy supply costs are passed through to customers without profit, and capital investments are recovered through ICC-approved rate cases. ComEd generates revenue primarily from regulated distribution delivery services to residential customers, small businesses, industrial facilities, and an emerging base of hyperscale data center operators. New FERC-approved Transmission Security Agreements with Equinix, Tract (1 GW at Morris Technology Park), Grundy County Power, Karis Critical, PowerHouse Hillwood Holding, and QTS Investment Properties Chicago establish a framework that shields existing ratepayers from over $2 billion in transmission upgrade costs while creating a new regulated revenue stream.

ComEd has supplemented its regulated wires business with an expanding portfolio of customer programs and grid services: the Low-Income Discount program (240,000 enrolled since January 2026), Delivery Time-of-Day Pricing Rates, a $10 million Customer Relief Fund, a $2.5 million Small Business Relief Fund, and Energy Saving Kits delivered in partnership with Walker-Miller Energy Services. Energy-efficiency initiatives have saved customers over $12 billion on bills since 2008, and a $4.5 million DOE-funded Building Performance Hub supports building decarbonization. ComEd participates in the Illinois Power Agency's renewable procurement plan and is collaborating with Illinois Tech, Argonne National Laboratory, and the University of Illinois Chicago on a DOE-funded microgrid cybersecurity initiative. Leadership is anchored by President and CEO Gil Quiniones and Chairman Corbin McNeill.

Name

ComEd (Commonwealth Edison)

Legal name

Commonwealth Edison Company

Website

https://comed.com

Company type

Public

Founded year

1907

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

ComEd (Commonwealth Edison) is a regulated electric utility serving approximately 3.8 million customers across northern Illinois, operating as a subsidiary of Exelon Corporation (NASDAQ: EXC). The company delivers electricity distribution, grid modernization, and bill-assistance programs while onboarding hyperscale data center loads through FERC-approved Transmission Security Agreements.

Ownership category

akta.pro rank

Product category

Regulated Electric Distribution

NAICS

Electric Power Distribution (221122), Electric Power Transmission, Control, and Distribution (22112)

SIC

Electric Services (4911)

akta.pro primary industry

Retail Electric Providers / Competitive Distribution Utilities (where applicable) (EUADABAE)

akta.pro secondary industry

REC/GO Compliance & Reporting (Disclosure, Claims, ESG/Scope 2) (EUAMAKAJ)

Keywords

• Electricity distribution services
• Regulated electric utility
• Grid modernization programs
• Energy efficiency services
• Customer assistance programs

Headquarters

HQ city

Chicago

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Infrastructure, Operations, Personnel, Technology or R&D, Others

Revenue model

1. Electricity distribution delivery services: ComEd operates as a regulated utility, providing electricity distribution services to approximately 9 million customers across northern Illinois. Revenue is generated through regulated delivery charges passed through to customers without profit, with rising energy supply costs affecting customer bills.
2. Bond issuance for refinancing and operations: ComEd issues bonds under its First Mortgage agreement secured by the company's utility plant, including Series 139 ($600 million, 4.550% Bonds due 2031) and Series 140 ($825 million, 5.850% Bonds due 2056), with proceeds used for redeeming outstanding bonds and general corporate purposes.

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels5 records

Core offering

ComEd is a regulated electric utility that distributes electricity to approximately 9 million customers across northern Illinois, including the Chicago metropolitan area. The company generates revenue through regulated delivery charges and operates a portfolio of customer-facing programs such as the Low-Income Discount program, Time-of-Day Pricing rates, energy efficiency initiatives, and bill assistance funds, while pursuing a $15.3 billion grid modernization plan to meet rising demand from data centers, electrification, and renewables.

Product overview

ComEd (Commonwealth Edison) operates as a regulated electric utility company serving northern Illinois, a subsidiary of Exelon Corporation. The company offers a portfolio of customer programs and grid infrastructure services including bill assistance programs (Low-Income Discount, Customer Relief Fund, Small Business Relief Fund), time-of-day pricing rates, energy efficiency initiatives (Energy Saving Kits, Building Performance Hub), and transmission infrastructure agreements. These programs are designed to manage rising energy costs, support decarbonization, and accommodate growing electricity demand from data centers and electrification while protecting existing customers from infrastructure cost impacts.

Differentiator

Problem solved

Functional benefit

Products and services

• Electricity Distribution Services
• Transmission Security Agreements
• Low-Income Discount (LID) Program
• Delivery Time-of-Day Pricing Rates
• Small Business Relief Fund
• Energy Saving Kits Program
• Building Performance Hub
• Customer Relief Fund

Quantifiable outcome

• Over $12 billion in customer energy bill savings since 2008 from energy efficiency programs
• +4 more outcomes

Named customers8 records

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

16 partnerships are on record, tiered major, core and minor.

• TractmajorTechnology or Integration · 20 April 2026FERC-approved Transmission Security Agreement to supply up to 1GW of power for a planned data center in Morris, Illinois at Morris Technology Park. The 343-acre site targets initial energization by June 2028 and full 1GW capacity by 2032. Agreement establishes framework requiring data center to cover transmission upgrade costs.
• EquinixmajorTechnology or Integration · 11 March 2026FERC-approved Transmission Security Agreement between ComEd and Equinix for data center power supply. The agreement protects existing ComEd customers from infrastructure costs associated with serving the data center, including provisions for committed revenue contributions, shortfall payments and termination fees.
• Grundy County PowermajorTechnology or Integration · 11 March 2026FERC-approved Transmission Security Agreement between ComEd and Grundy County Power for data center power supply, protecting customers from infrastructure costs.
• Karis CriticalmajorTechnology or Integration · 11 March 2026FERC-approved Transmission Security Agreement between ComEd and Karis Critical for data center power supply, protecting customers from infrastructure costs.
• PowerHouse Hillwood HoldingmajorTechnology or Integration · 11 March 2026FERC-approved Transmission Security Agreement between ComEd and PowerHouse Hillwood Holding for data center power supply, protecting customers from infrastructure costs.
• QTS Investment Properties ChicagomajorTechnology or Integration · 11 March 2026FERC-approved Transmission Security Agreement between ComEd and QTS Investment Properties Chicago for data center power supply, protecting customers from infrastructure costs.
• Walker-Miller Energy ServicescoreStrategic or Co-development Partner · 3 February 2026Partnership on Energy Saving Kits portal and marketing campaign that delivered approximately 20,000 energy-efficient kits to income-eligible households in northern Illinois. The campaign resulted in over 12,300 MWh electricity savings, 724,200 therms of natural gas savings, and nearly $3 million in combined customer bill savings. Both partners received MEEA's Inspiring Efficiency Marketing Award.
• Illinois Power AgencycoreStrategic or Co-development PartnerIllinois Commerce Commission approved the Illinois Power Agency's 2026 Long-Term Renewable Resources Procurement Plan covering utility-scale wind, solar, hydropower, and community solar projects. ComEd participates in procurement of Renewable Energy Credits as part of Illinois' renewable energy objectives, which has seen over 14GW of renewable capacity installed as of 2025.
• EPRIminorStrategic or Co-development PartnerCompleted Agriculture Pods pilot program involving controlled environment agriculture (CEA) pods in northern Illinois, producing and distributing fresh produce using energy-efficient technologies. Program included installations at community locations and a university.
• Better Business Bureau (BBB)minorGTM or Marketing PartnerPartnership on Utility Scam Awareness Day with northern Illinois gas companies to promote 'Slow Down, Verify, Stop the Scam' approach to help consumers recognize and avoid fraudulent tactics by scammers impersonating utility employees.
• OpenlandsminorGTM or Marketing PartnerGreen Region Grant Program partnership awarding over $150,000 to support environmental projects across 18 communities in northern Illinois, including land restoration, pollinator habitats, and environmental education.
• Metropolitan Mayors CaucusminorGTM or Marketing PartnerPartnership providing grants supporting holiday light displays and events in northern Illinois, with 25 awards totaling over $60,000 for community celebrations. Program launched in 2021 to foster community pride and cultural expression.
• Illinois TechcoreStrategic or Co-development PartnerPartnership establishing the Midwest Center for Microgrid Cybersecurity (2MC) through DOE funding to develop cybersecurity software protecting power grids from cyberattacks. Project brings together researchers from Illinois Tech's Galvin Center, Argonne National Laboratory, University of Illinois Chicago, and ComEd to create virtual fencing technology for microgrid threat containment.
• Argonne National LaboratorycoreStrategic or Co-development PartnerPartnership on Midwest Center for Microgrid Cybersecurity (2MC) developing cybersecurity software protecting power grids from cyberattacks through virtual fencing technology that can contain threats within microgrid sections.
• University of Illinois ChicagocoreStrategic or Co-development PartnerPartnership on Midwest Center for Microgrid Cybersecurity (2MC) developing cybersecurity software protecting power grids through collaborative research with Illinois Tech and Argonne National Laboratory.
• TerraForm Power / Brookfield Asset ManagementminorStrategic or Co-development PartnerTerraForm Power acquired 1.56 GW Steward Creek Solar project in Lee County, Illinois with a 600 MW interconnection agreement with Commonwealth Edison and PJM Interconnection. Phase 1 construction starts 2027, operation by 2029; Phase 2 projected for 2028 with 2030 functionality.

Scale indicators12 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• PECO Energy: PECO Energy is a regulated electric and natural gas utility serving southeastern Pennsylvania and is a sister subsidiary of ComEd under Exelon Corporation. It is directly comparable as a regulated rate-of-return electric distribution utility with similar business model, regulatory framework, and parent-company capital structure.
• Ameren Illinois: Ameren Illinois is a regulated electric and natural gas utility serving central and southern Illinois under the same Illinois Commerce Commission regulatory framework as ComEd. It is a direct peer given overlapping Illinois service geography, identical state regulator, and shared exposure to data center and electrification demand drivers.
• Baltimore Gas and Electric (BGE): BGE is a regulated electric and natural gas utility serving central Maryland and is another Exelon sister subsidiary. It is directly comparable to ComEd as a regulated rate-base electric distribution utility with similar cost-of-service ratemaking, grid modernization programs, and parent-company support.
• Pepco: Pepco is a regulated electric distribution utility serving Washington DC and Maryland and is another Exelon sister subsidiary to ComEd. It is directly comparable as a regulated rate-of-return electric utility with similar business model, regulatory framework, and shared Exelon parent capital allocation.

Broad incumbents

• Consolidated Edison (Con Edison): Consolidated Edison is a large investor-owned regulated utility serving New York City and Westchester County. It is a broad incumbent peer to ComEd given similar regulated electric distribution business model, urban service territory, exposure to electrification demand, and similar scale of customer base and rate base.
• Pacific Gas & Electric (PG&E): PG&E is one of the largest US investor-owned electric and gas utilities, serving northern and central California. It is comparable to ComEd as a large regulated distribution utility with similar grid modernization, wildfire/weather resilience, and electrification investment themes, though PG&E's territory and regulatory context differ.
• Southern California Edison (SCE): SCE is a major investor-owned regulated electric utility serving southern California. It is comparable to ComEd as a large regulated electric distribution utility with similar scale, capital intensity, grid modernization programs, and exposure to data center / electrification demand growth in its service territory.
• Duke Energy: Duke Energy is one of the largest US investor-owned utilities serving the Carolinas, Florida, and the Midwest. It is a broad incumbent peer to ComEd given similar regulated electric distribution business, scale of rate base, multi-state capital investment programs, and exposure to data center demand growth across its territories.
• Eversource Energy: Eversource Energy is a large New England-based regulated electric, gas, and water utility. It is comparable to ComEd as a regulated distribution utility with similar capital intensity, grid modernization themes, and exposure to electrification-driven load growth, though operating in a different regulatory geography.
• Dominion Energy: Dominion Energy is a large US investor-owned regulated electric utility with significant operations in Virginia and the Carolinas, including one of the largest US data center markets in northern Virginia. It is directly comparable to ComEd on the data center demand thesis and similar regulated rate-base business model.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/ComEd
• Facebookfacebook.com/info
• LinkedInlinkedin.com/company/comed

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Funding overview

Funding rounds5 records

Investors2 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments19 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about ComEd (Commonwealth Edison)