Exelon Company ComEd spends over $700 million with diverse suppliers
Exelon affiliate ComEd achieved record spend levels with diverse suppliers last year, finishing 2016 with $777 million in diverse spend. Purchases include spend with minority, women, and veteran owned organizations.
In 2011, the Energy Infrastructure Modernization Act (EIMA) created the smart grid program to help modernize its system for its 3.9 million customers. According to Yahoo, ” The legislation established a broad range of performance metrics for utilities, including increased spending with diverse suppliers, by at least 15 percent over 10 years.” ComEd has exceeded that goal hitting $4 billion in increased spend, $1.6 billion being with diverse suppliers.
ComEd’s $777 million accounts for 33% of the company’s total spend and is a 19% increase from its 2015 spend. “Since the smart grid program began in 2012, ComEd’s diverse spend has increased by 362 percent, creating opportunities for minority-, women-, and veteran-owned businesses. In 2016, ComEd added 132 diverse suppliers, a 26-percent increase, for a total of 516 certified-diverse suppliers.”
Exelon affiliate’s have a habit of hitting record highs over the past few years and Supplierty News salutes each and every one.