Source: EV Hub
Curious about how utilities are investing in transportation electrification programs? We’ve got you covered. At Atlas EV Hub, our Electric Utility Filings dashboard tracks the status of various regulatory commission filings by investor-owned utilities (IOU) from their initial proposal to the final decision. Filings are distinguished by charging programs or electricity rates, and equity-related aspects are specified in the dashboard.
In September 2022, Atlas Public Policy analyst Nicole Lepre published the Electric Utility Filing Annual Update, which summarizes U.S. investor-owned utility activity in transportation electrification for the 12 months from July 2021 through June 2022. This analysis found that over this period, over $470 million was approved for transportation electrification programs, compared to the $1.6 billion approved during the same period the year prior. Nonetheless, IOU EV investment activity persists, and we’ve seen some promising investment proposals, and approvals, come to play since. Here are a few utility investments that we have been keeping an eye on:
Xcel Energy – Minnesota: $382 million proposed
On August 2, 2022, Xcel Energy (MN) filed for the approval of a public charging network, an electric school bus pilot, and other program modifications. The proposal includes $195 million for a DCFC Public Charging Network Expansion and $20 million for an Electric School Bus Pilot program. The proposal also budgets nearly $104 million for enhancing its Commercial EV Portfolio, $24 million for enhancing its Residential EV Portfolio, and $16 million for its Partnerships, Research, and Innovation (PRI) portfolio.
Xcel Energy – Wisconsin: $3.4 million proposed
On August 2, 2022, Xcel Energy, through their subsidiary Northern States Power Company-Wisconsin proposed to invest $3.4 million in a Multi-Family Housing (MFH) Service Pilot Program. The company also requested approval for a residential Bring Your Our Charger rate option.
Commonwealth Edison – Illinois: $92 million proposed
On July 1, 2022, Commonwealth Edison (ComEd) proposed to invest $92 million in transportation electrification across seven different programs. More than half of this funding ($55 million) is dedicated to EV purchase incentives for residential, commercial, and industrial customers for passenger vehicles, transit buses, school buses, and forklifts. Of the total funding proposed, $15 million is to be dedicated to residential and commercial/public charging infrastructure rebate programs. The commercial/public EJ/R3 EV Charging Infrastructure Sub-program provides incentives for the installation of electric vehicle charging stations for public sector entities and public charging facilities located in or serving low-income or environmental justice communities. The company will also invest $5 million in a beneficial electrification pilot program as well as $9 million in an education and awareness program. ComEd maintains a goal of allocating at least 40 percent of proposed investment to underserved communities, or $34 million of the total.
With these recent filings, there is now more than $500 million in pending investment from IOUs so far this year. You can read more on the Electric Utility Filings dashboard.