ComEd expected to get new Chicago franchise; $90M equity fund proposed

EXELON CORP

New franchise license would have initial 15-year term ending Dec 31, 2037, with 5-year extension option.
City may acquire ComEd's Chicago utility facilities after Jan 1, 2027, under defined compensation formula.
ComEd to fund a new nonprofit entity $90M (2023-2026) plus $20M if extended; not recovered in customer rates.
ComEd commits $10M for workforce development initiatives; additional $10M to nonprofit if rate recovery occurs.
Ordinance introduced Feb 1, 2023 to Chicago City Council; no assurance on final terms or approval.

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