Comed Looking For Another Rate Hike

By aaroncynic in News on Jan 20, 2011 6:40PM

ComEd is once again pushing for automatic rate increases. Crain’s reports that the utility plans a big push at Illinois lawmakers this spring which would allow electric and natural gas providers to raise rates each year along with curbing regulatory powers which control pricing. ComEd is hoping for a “policy based approach” that would allow all utilities that invest in their infrastructure at a particular level to change increase rates based on costs. The process would allow utilities to avoid a lengthy review process from the Illinois Commerce Commission.

While ComEd states that its efforts will “provide customers more control over their electric bill” and create jobs via improvements to the electric grid, consumer advocates are nervous.

The proposal looks an awful lot like last year’s proposal of freezing electric rates at a higher price in exchange for $500 million. David Kolata of the Citizens Utility Board told Crain’s “To the extent the bill looks like the one they introduced last session, that’s not good for consumers. It would reduce ComEd’s risk and put it on the backs of consumers.”