ComEd Launches EcoPowersm
Sale of renewable energy is a first on the wholesale market in the Midwest
Chicago, IL — March 20,2000 — As part of its ongoing commitment to the environment and the Northern Illinois community, ComEd will begin marketing EcoPower(sm) to municipalities, retail electric suppliers and other utilities.
EcoPower is electricity that demonstrates a net environmental benefit as compared to The average system mix in a particular region. EcoPower is typically derived from renewable energy sources such as landfill gas, water, wind and the sun. These are referred to as "renewable" because they are non-depletable sources of energy. EcoPower is a service mark of the Environmental Resources Trust (ERT), a private, nonprofit organization founded with the assistance of Environmental Defense, formerly The Environmental Defense Fund.
ComEd has entered into an agreement with ERT and will initially market EcoPower that is composed of landfill gas. All net revenues will be reinvested by the ERT in support of development of additional cleaner electricity sources. The company is considering other renewable energy resources in the near future.
"EcoPower further demonstrates our determination to make a difference in the environment-at-large and The Northern Illinois community," said John W. Rowe, Unicom and ComEd chairman and chief executive officer. "Offering renewable energy will allow our wholesale customers to have more choice in their decisions about the power they purchase."
ComEd's wholesale energy group will sell EcoPower as part of its marketing agreement with ERT. ERT in turn will set up a renewable energy investment fund at a local Chicago bank, in which proceeds from the sale of EcoPower will be deposited and used to help finance new renewable energy projects in Illinois.
ComEd will offer EcoPower on the Automated Power Exchange's (APX) Midwest Green Power Market, which opened today. This Exchange will allow wholesale market participants to buy and sell renewable energy tickets, which represent the premium buyers are willing to pay for environmentally friendly power, through an Internet-based trading system. Wholesale customers can also purchase EcoPower from ComEd through bilateral contracts.
Next week, Automated Power Exchange also will open a wholesale exchange for trading system power — the APX Midwest Markets — in ComEd's service area.
EcoPower reinforces ComEd's commitment to the community and the environment. The company has several environmental initiatives such as the Clean Communities Trust Fund, Spire Solar Chicago, Net Metering Experiment, tree planting and other energy efficiency programs
"EcoPower is the perfect addition to our existing portfolio of environmental programs and our initiative in this area provides substantial support in the market for renewable energy in the Midwest," said Paul Elbert, executive vice president of Unicom in charge of ComEd's wholesale operations.
As part of its agreement with ERT, ComEd has the exclusive rights to sell renewable energies produced in Illinois under the EcoPower name. ComEd also has an exclusive right to use the EcoPower name for sales on the power exchanges in Illinois and Ohio.
Incorporated in 1994 and based in Chicago. Unicom Corporation (NYSE:UCM) is a public company dedicated to meeting the energy needs of residential, commercial, industrial and wholesale customers. With approximately 15,000 employees and nearly $7 billion in revenues, Unicom Corporation is the parent holding company to Commonwealth Edison Company (ComEd), its principal subsidiary, and Unicom Enterprises, Inc., offering competitive energy-related products and services.
ComEd contact: Tabrina L. Davis (312) 394-3500