Group Slams Bill That Would Hike ComEd Rates

CHICAGO (WBBM/CBS) — The Citizens Utility Board says it opposes a bill that’s being introduced today in the Illinois General Assembly that would increase electric bills for ComEd customers.

WBBM’s Regine Schlesinger reports CUB says the bill is a means for Comed to get around the regulatory process and ensure itself automatic rate hikes.

LISTEN: Newsradio 780’s Regine Schlesinger reports

If the bill passes, consumers would see an annual 2 percent rate hike.

The bill would also allow ComEd and other state utilities to lock in profit margins above 10 percent, and shorten the regulatory review process.

ComEd helped write the bill, and says it would help utility companies plan for investments such as modernizing electrical grids and hiring more workers.

But CUB executive director David Kolata says, “It’s really not a good deal for consumers right now.”

Kolata continued: “They’re trying to pitch this as a jobs bill; that they’re going to invest in their system. But the bottom line here is what they’re proposing here is a pretty drastic shift in the regulatory process. We think it would put in place a system that would lead to higher rates than we would otherwise see.”

Kolata says CUB is willing to consider regulatory form, but with the way this bill is written, he says CUB opposes it.

  • NO mention..........

    About the increase that they’ve already snuck in on us!!! Taken a good look at your bills lately???

  • Dawn Keefe

    shouldnt be allowed to raise anything but average and low income wages at this time of economic downfall

  • Yvonne

    People are having tuff times as it is and ComEd have the nerve to ask for an increase 7% now 2% every every year after that. I think ComEd and stockholders has lost there minds. These companies have become so darn greedy and power hungery. The wealthy people need to be very careful with the greed otherwise we about to destruct. ComEd need to rethink this idea and the Illinois General Assembly members who have a stake or shareholders need to also rethink this devastating measure.

  • South Side Irish

    ComEd did the same thing in the 70’s when Illinois had the highest rates in the country because ComEd was building the nuclear plants so Illinois would be assured until 2020 of plenty of electricity at much lower rates after the plants were built. Look who owns the plants now and ComEd must buy the electricity from them and make a small profit selling to us. This is all smoke and mirrors so our politicans will go for it and then tell us how this is good for us.

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