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[The following is a paid advertisement.]
After a summer riddled with power outages, angry customers, and a veto of Senate Bill 1652, it’s no wonder that ComEd is back on the SB1652 campaign trail – trying to convince Illinois legislators to override the veto, claiming that the legislation will lead to necessary improvements in Illinois’ electric grid. Don’t buy it.
ComEd and Ameren have received nearly $640 million in rate increases since 2007 – all paid for by consumers. Why haven’t those funds been reinvested for infrastructure improvements? Exelon, ComEd’s parent company, posted $2.6 billion in profits in 2010; Ameren $151 million. Again, why weren’t those funds used to pay for infrastructure improvements?
If ComEd and Ameren had been appropriately reinvesting existing revenues into the infrastructure all along, they wouldn’t need SB1652.
Senate Bill 1652 isn’t about smart grids or modernization of the electric grid. It’s about higher rates and higher guaranteed profits for utility companies. As former CIA Director, James Woolsey, recently said: “A so-called smart grid that’s as vulnerable as what we’ve got is not smart at all. It’s a really, really stupid grid.”
AARP urges lawmakers to stand up for consumers and reject any attempt to override Governor Quinn’s veto of SB1652.
posted by Advertising Department
Monday, Oct 3, 11 @ 12:38 pm
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