ComEd filed the new annual delivery service rate under the 2011 Smart Grid law to reflect the grid modernization and other service-enhancing investments by the company.

Subject to ICC approval, the new rates will be implemented from January 2014.

As per the ComEd’s filing, the delivery service charges will be increased by about $5 on an average monthly residential bill starting from January 2014.

The increased bill is already balanced by a 17% reduction in the total average bills starting June 2013.

ComEd customers therefore, will pay about 10% less on their electric bill in 2014 than they are paying today.

ComEd president and CEO Anne Pramaggiore said the company’s current investments will create long-term benefits for its customers.

"This work is already improving system performance and customer satisfaction and creating jobs in Illinois," Pramaggiore added.

"Making these long-term investments now, when energy supply costs are low, keeps customers’ total bills stable."

The company has also filed annual adjustment in transmission rates with the Federal Energy Regulatory Commission to increase around $1 on the average monthly residential bill.

The increased amount will be used to invest in the high-voltage lines to improve system reliability, partly as the result of coal plant retirements and increasing wind power on the system.