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ComEd Diverse Supply Spend at an All-Time High, Up 57 Percent in 2015

Utility's Capital Investments and Smart Grid Program Help Drive Economic Empowerment for Illinois' Minority, Women and Veteran-owned Businesses

CHICAGO (April 18, 2016)Of the $2.4 billion in total capital investments made by ComEd in 2015 – the most since the 1980s  –  $653 million or 29 percent was spent with minority, women and veteran-owned businesses. While the total capital expenditure represented an increase over 2014 of 42 percent, the diverse supplier spend increased by an even higher 57 percent, reflecting the utility's commitment to grow both the dollars and percent of total spend with minority, women, and veteran-owned businesses.  

The submission on April 15 of ComEd's Diverse Business Veteran and Small Business Report to the Illinois Commerce Commission (ICC) is an Illinois statutory requirement. The Energy Infrastructure Modernization Act (EIMA) or Smart Grid Law enacted by the Illinois General Assembly in 2011 authorized ComEd to invest $2.6 billion over 10 years to strengthen and modernize the system, an effort that is already resulting in record reliability performance, improved customer satisfaction, operational savings and new ways to save on electric bills for ComEd customers. 

The robust program features numerous work streams, such as the replacement of hundreds of miles of underground mainline cable, refurbishing thousands of manholes, replacing thousands of wood poles, digital upgrades to substations, the installation of smart switches that automatically route power around potential problem areas and the installation of smart meters throughout northern Illinois. 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 made a total supply chain spend in Illinois of $4 billion, including $1.6 billion total diverse supply chain spend.  In 2015, ComEd spent a total of $314 million with Illinois-based diverse suppliers, far exceeding the $68 million goal for the year.

"Diversity is central to the culture of ComEd and creating opportunities for diverse suppliers is key to meeting the changing needs of customers, so our diverse spend will continue to grow," said Anne Pramaggiore, ComEd president and CEO.

"We're raising the bar on innovation and customer connection, which means working with creative and diverse suppliers who bring distinct skills and unique insights to help us deliver even greater value to our customers," she continued.  "We have 97 categories of goods and services that are needed to run our business, and we're eager to provide opportunities to not only diverse suppliers, but to diverse innovators who will create the next generation of solutions for our customers." 

In 2015, ComEd added 52 diverse suppliers, an 18 percent increase, for a total of 384 certified-diverse suppliers.

Earlier this month, ComEd hosted it's first-ever Diverse Supplier Awards program where six area companies were recognized for excellence in overall performance, growth and entrepreneurship,  community partnership and diversity advocacy.  

A long-time supporter of supplier diversity, ComEd is a founding member of Chicago United, established more than 40 years ago. ComEd is one the original member companies of the Chicago United's Five Forward program which enlists the commitment of CEOs from mid-sized to large-sized corporations in the Chicago area to establish or expand business relationships with five current and or new local minority firms. CONSTRUCT, an 11-week, multi-partner jobs program spearheaded by ComEd to train diverse workers in the field of construction. Of the 150 CONSTRUCT graduates, 80 percent have been offered full-time jobs in Illinois. In 2015, ComEd also joined other large utility providers in Illinois to form the Illinois Utilities Business Diversity Council (IUBDC) to advance the growth of utility-based diverse businesses by cultivating business opportunities, technical development and the sharing of best practices.

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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 4 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.

 

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