.

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 programs.  We can't proceed forward and ramp them up as we intended."

The measure that passed out of committee Thursday will head to the Senate for a full vote. Listen to IPR's Amanda Vinicky's radio report.

Rich Miller at CapitolFax.com calls is "deja vu all over again."

At the time the 2011 law passed, Gov. Pat Quinn vetoed it but the legislature overrode his veto.

And in other financial news that galls ... 

The Jesse Jackson Jr. Collection: Using money donated to his campaign, ex-congressman Jesse Jackson Jr. bought pricey memorabilia honoring Martin Luther King, Jr., Michael Jackson, Eddie Van Halen, Jimi Hendrix and Bruce Lee, along with minks, furs and a gold Rolex. Read more in the full federal complaint posted on Chicago Heights Patch

This post is published throughout the Chicago-area Patch network.

Comments on this post are now closed.


Walt Hines February 18, 2013 at 01:34 AM
Should have read " there is". Too much work, too little sleep!
I'M JUST SAYING February 18, 2013 at 01:43 AM
I changed companies I get the Bill from COMED but NICOR is my supplier. Little cheaper. MIDWEST GENERATION PLANT ROMEOVILLE rumers has it that they are Due to Close . HUMMMMM
John February 18, 2013 at 02:54 AM
I would like a lot more info on this, the article was mighty short and had few details. Just seems wrong to attempt to get additional pay for services that have already been charged and collected for, is that not a fulfilled contract? Who specifically is involved? What officials of the IL Government are part of this? Perhaps if ComEd can't manage this properly the utility should become a publicly held trust, and the electrical power provided at the actual cost of production, with no profits involved for shareholders and investors. After all, it;s still a monopoly, which should be illegal.
Doobie Brothers February 18, 2013 at 03:16 AM
Fine, then I'll just start powering everything at home off static electricity generated from scratching the dog. It's a win-win scenario.
Tom S February 18, 2013 at 03:42 AM
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 complete the program. This new bill will restore most of what the ICC denied. If it becomes law. It would increase the average residential customer bill by approximately 40 cents per month in 2014, increasing to approximately 80 cents per month in 2017. Source: PR Newswire

Boards

More »
Got a question? Something on your mind? Talk to your community, directly.
Note Article
Just a short thought to get the word out quickly about anything in your neighborhood.
Share something with your neighbors.What's on your mind?What's on your mind?Make an announcement, speak your mind, or sell somethingPost something
See more »