ComEd Launches Low-Income Discount Program to Aid Customers
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1h ago
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Source: Businesswire
- Launch of LID Program: ComEd's newly introduced Low-Income Discount (LID) program offers qualifying customers a 3% to 6% discount on their monthly electric bills, aimed at alleviating the financial burden on households facing rising energy costs.
- Customer Enrollment: Currently, 240,000 ComEd customers have enrolled in the LID program, with ongoing enrollment to assist those struggling to pay their energy bills, highlighting the program's significant demand and importance.
- Eligibility and Savings Potential: The LID program provides tiered discounts for households earning up to 300% of the federal poverty level, allowing eligible customers to save between 5% and 80% on their electric bills, potentially benefiting over 35,000 households.
- Community Collaboration and Support: ComEd collaborates with the City of Rockford and Community Action Agencies to ensure customers can apply for LID alongside state energy assistance programs, further enhancing support for economically challenged families.
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Analyst Views on EXC
Wall Street analysts forecast EXC stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for EXC is 49.46 USD with a low forecast of 39.00 USD and a high forecast of 57.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
15 Analyst Rating
7 Buy
6 Hold
2 Sell
Moderate Buy
Current: 44.410
Low
39.00
Averages
49.46
High
57.00
Current: 44.410
Low
39.00
Averages
49.46
High
57.00
About EXC
Exelon Corporation is a utility services holding company engaged in the energy transmission and distribution businesses through its subsidiaries, Commonwealth Edison Company (ComEd), PECO Energy Company (PECO), Baltimore Gas and Electric Company (BGE), Potomac Electric Power Company (Pepco), Delmarva Power & Light Company (DPL) and Atlantic City Electric Company (ACE). Its segments include ComEd, PECO, BGE, Pepco, DPL and ACE. ComEd segment is engaged in purchasing and regulating the retail sale of electricity. PECO segment is engaged in purchasing and regulating the retail sale of electricity and natural gas. Through its business services subsidiary, Exelon Business Services Company, LLC (BSC), it provides its subsidiaries with a variety of support services at cost, including legal, human resources, finance, information technology and supply management services. BGE segment is focused on transmission and distribution of electricity and distribution of natural gas to retail customers.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
ComEd Launches Low-Income Discount Program to Aid Customers
- Launch of LID Program: ComEd's newly introduced Low-Income Discount (LID) program offers qualifying customers a 3% to 6% discount on their monthly electric bills, aimed at alleviating the financial burden on households facing rising energy costs.
- Customer Enrollment: Currently, 240,000 ComEd customers have enrolled in the LID program, with ongoing enrollment to assist those struggling to pay their energy bills, highlighting the program's significant demand and importance.
- Eligibility and Savings Potential: The LID program provides tiered discounts for households earning up to 300% of the federal poverty level, allowing eligible customers to save between 5% and 80% on their electric bills, potentially benefiting over 35,000 households.
- Community Collaboration and Support: ComEd collaborates with the City of Rockford and Community Action Agencies to ensure customers can apply for LID alongside state energy assistance programs, further enhancing support for economically challenged families.
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ComEd Launches Low-Income Discount Program Benefiting 240,000 Customers
- Launch of Low-Income Discount Program: ComEd's newly introduced Low-Income Discount (LID) program has enrolled 240,000 customers, aiming to provide eligible customers with percentage-based discounts on their electric bills, reducing energy costs to 3% to 6% of total household income.
- Addressing Economic Pressures: The program is launched amid rising energy supply costs, assisting customers in navigating economic challenges, with ComEd committed to supporting all customers through LID and other assistance programs, enhancing its community responsibility.
- Eligibility and Savings Potential: The LID program offers tiered discounts to customers with household incomes up to 300% of the federal poverty level, allowing eligible customers to save between 5% and 80% on their electric bills, potentially benefiting over 35,000 households in Winnebago and Boone counties.
- Community Collaboration and Outreach: The Rockford HHS department collaborates with ComEd to coordinate weekly outreach events, helping customers apply for LID, ensuring that more needy families receive economic relief amid rising costs of basic necessities.
Continue Reading