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Lightfoot Agreement with ComEd Calls for Backing Clean-Energy Projects
Commonwealth Edison will continue to serve the city of Chicago for at least the next 15 years under an agreement with the Lightfoot administration to extend the franchise, which expired more than two years ago.
The pact, which needs City Council approval and is set to be introduced at Wednesday’s meeting, features $100 million in shareholder cash from ComEd, Crain’s Chicago Business reported. Most of that will go to launch a nonprofit dedicated to promoting clean-energy projects in the city, according to sources who were briefed, although a small portion could go to build a job training center on the city’s West Side.
It’s unclear what specific projects the city has in mind, but Crain’s reported that possibilities include constructing electric-vehicle charging stations throughout the city, as well as solar power projects on vacant properties that could give participating household customers a break on their electric bills.
- ◦Policy/Gov't
