Patch on Politics
ComEd Wants You to Pay More for Electricity You Used Last Year
The utility wants lawmakers to amend a 2011 rate-hike law to allow the utility to retroactively collect money for electricity already used.
The Illinois Senate Executive Committee unanimously approved a request by ComEd and Ameren to "clarify" a 2011 law that allowed the utilities to raise electricity rates, Illinois Public Radio reports. The clarification would allow the power companies to retroactively charge higher rates for the electricity you've already used, potentially raising up to $70 million for ComEd, according to Sun-Times Media. The 2011 law changed the formula used to determine charges. But the utilities say it didn't work as intended. They say regulators aren't letting them charge what they need. Now the companies are back, asking the legislature to pass another law, clarifying the old one. (Says) ComEd CEO Anne Pramaggiore: "Without it we are stalled in these…
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Tom S
9:42 pm on Sunday, February 17, 2013
Under the Smart Grid law passed in 2011, ComEd committed to spend $2.6 billion over 10 years to modernize the electric grid in Northern Illinois. The ICC's interpretation of the law reduced funding to complete the modernization program. As a result, ComEd faced a reduction in funding of nearly $100 million per year in 2014 and beyond. Without the additional funding, ComEd stated it could not … more ›