ComEd Receives Approval for Beneficial Electrification Plan 2, Continuing to Advance Transportation Electrification in Illinois

Investment of $168 million over three years will support EV purchases and charging infrastructure advancements

ComEd today announced that the Illinois Commerce Commission (ICC) has approved its second Beneficial Electrification (BE) Plan, investing approximately $168 million over a three-year period beginning in 2026. The continuation of ComEd's BE funding marks a significant step forward in ComEd's commitment to advancing electric vehicle (EV) adoption and reducing emissions in northern Illinois.

Building on its current $231 million investment in beneficial electrification, deployed from 2023 through 2025, ComEd will invest an additional $168 million between 2026-2028 through BE Plan 2 to help residential and non-residential customers transition to and take advantage of electric vehicles.

Since February of 2024, ComEd has incentivized the purchase and installation of nearly 5,000 public and private EV charging ports (Level 2 and Fast Chargers) and the purchase or lease of nearly 1,000 new and pre-owned electric fleet vehicles. More than 70% of the rebates awarded have gone to low-income customers or business and public sector organizations located in, or primarily serving, low-income and Equity Investment Eligible Communities (EIECs). Over this same period, Illinois has seen EV registrations grow three to four times faster than the nation as a whole.

"The shift to EVs is a major milestone on the road to Illinois' clean energy future, and it is part of a broader effort to electrify more of our region's energy system," said Gil C. Quiniones, ComEd President and CEO. "Through the expansion of our Beneficial Electrification programs, ComEd is helping to reduce carbon emissions, improve air quality, and enable all communities to enjoy the benefits and opportunities that flow from the global energy transformation."

The approval of ComEd's BE Plan 2 follows the successful implementation of ComEd's first BE Plan, which was approved in 2023 under the guidance of the Climate and Equitable Jobs Act (CEJA). Signed into law by Governor J.B. Pritzker in 2021, CEJA aims to combat climate change by leveraging Illinois' clean electricity grid and promoting beneficial electrification across the state.

"Illinois is committed to decarbonizing the transportation sector, and ComEd's BE Plan 2 plays a crucial role in enabling more electric vehicle adoption in the state," said Megha Lakhchaura, State EV Officer of Illinois. "By expanding charging infrastructure and providing incentives from the state and key partners like ComEd, we are making EV adoption more accessible and practical for residents and businesses alike."

Key components of ComEd's second Beneficial Electrification Plan include:

• Residential EV Charger and Installation Program: $11 million, over three years, to offer rebates of up to $2,500 per household to support the purchase and installation of residential Level 2 electric vehicle chargers.
• Business and Public Sector EV Purchase Program: $82 million, over three years, to offer rebates for the purchase or lease of new or pre-owned fleet EVs of all weight classes.
• Business and Public Sector Make-Ready Program: $44 million, over three years, to offer rebates for covering costs associated with making sites ready for public or private Level 2 of DC Fast Charging equipment.
• Customer Education and Awareness Program: $11 million, over three years, to fund multiple efforts to empower and support customers to make informed decisions about vehicle electrification and charging infrastructure deployment. This includes free access to ComEd support tools including Fleet Electrification Assessments, EV Toolkits and training programs for municipalities interested in achieving "EV Ready" status, and free Fleet Electrification Assessments, among others.
• Research and Development Program: $11 million, over three years, to evaluate and demonstrate the impact of new transportation and electrification technologies.
• Portfolio Program: $9 million, over three years, to fund a variety of initiatives spanning across multiple programs, to support a successful deployment of BE Plan 2 as a whole.

Projects located in, or primarily serving, low income or EIECs, will be eligible for higher rebate amounts, and will receive more than 50% of the BE Plan 2 budget. Exact rebate amounts may be adjusted in response to demand over the course of the BE Plan 2 timeline.

EVs provide a variety of benefits for customers. Not only do they offer fuel and maintenance cost savings and performance benefits, but communities can experience broad environmental improvements from reduced tailpipe emissions. Additionally, electrifying transportation—especially vehicle fleets—can create tangible benefits for all communities and families across northern Illinois, including health benefits in communities which have traditionally borne the brunt of climate change and air pollution.

"Reducing vehicle emissions is one of the most effective ways to improve air quality and public health," said Brian Urbaszewski, Director of Environmental Health Programs at Respiratory Health Association. "Given current uncertainty with other sources of funding that foster zero-emission transportation, ComEd's continued investment in its Beneficial Electrification Plan is now even more critical in helping cut harmful pollutants, leading to cleaner air and healthier communities across northern Illinois."

ComEd's BE Plan 2 was developed in close collaboration with multiple stakeholders, including environmental organizations, community groups and industry experts to ensure equitable access to electrification benefits. The continued efforts in 2026 will build upon the existing resources and tools ComEd has already launched to support customer education and EV adoption including, the ComEd EV Toolkit, EV Ambassador Program, EV Readiness program, EV Load Capacity Map, Fleet Electrification Assessments, EV Service Provider Network, EV Dealership Network and more.

For more information on ComEd's second BE Plan and available resources and programs offered by ComEd, please visit ComEd.com/EV.

ComEd is a unit of Chicago-based Exelon Corporation (NASDAQ:EXC), a Fortune 200 energy company serving more than 10.7 million electricity and natural gas customers—the largest number of customers in the U.S. ComEd powers the lives of more than 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, Instagram, LinkedIn, X and YouTube.

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