CHICAGO–(BUSINESS WIRE)–ComEd today provided the Illinois Commerce Commission (ICC), which regulates utilities in the state, with its first annual ethics and compliance report. The report outlines ComEd’s internal controls and codes of conduct to provide increased transparency to the public and help ensure that the company adheres to rigorous ethical standards.
The annual report is a new requirement for state electric and gas utilities under the Climate and Fair Employment Act (CEJA) that was passed in Illinois last fall. In addition to measures to decarbonize the electricity sector in Illinois and address community equity needs, the law includes a number of new requirements and provisions for Illinois utilities related to ethical conduct and transparency.
“As a regulated utility and provider of essential services, ComEd is accountable to the more than 9 million people we serve in Northern Illinois,” said ComEd’s CEO. Gil Quiniones. “We are as strongly committed to the highest standards of ethics and compliance as we are to providing reliable, affordable, clean and sustainable energy to the customers and communities we serve.”
Among its content, the report outlines the steps ComEd has taken to strengthen its compliance program, as well as the policies and programs in place to set high standards for ethical behavior. The company has taken strong action, including putting in place strong new policies, controls, monitoring and employee training regarding how the company works with public officials. Additionally, ComEd is strengthening its culture of compliance and ethics through increased employee training and engagement.
“Our work in this space continues,” Quiniones said. “Through our words and actions, we work every day to restore trust with our customers, communities and employees and to set an example as a leader in business ethics. Our leaders at ComEd are at the forefront of this work, demonstrating the behaviors we expect of every employee.
The report also provides information on ComEd’s procedures, practices and controls related to areas such as financial and accounting systems, ethics and compliance risk assessment, employee training, senior management and management. ‘application.
In accordance with CEJA requirements, the report was prepared under the supervision of ComEd’s Compliance and Ethics Officer. The report is publicly available at: https://www.icc.illinois.gov/emdb/ucdb/entity/U295/filing-list?year=2022&ft=2.
ComEd is a unit of Chicago-based Exelon Corporation (NASDAQ: EXC), a Fortune 200 energy company with approximately 10 million electricity and natural gas customers – the largest number of customers in the United States. ComEd powers the lives of more than 4 million customers across northern Illinois, or 70% of the state’s population. For more information, visit ComEd.com and connect with the company on Facebook, Twitter, instagram and Youtube