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So now they tell us

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Illinois

On the day before Gov. Bruce Rauner is to sign into law a multi-year electricity rate hike for consumers and businesses statewide, his Illinois Commerce Commission approved a $127 million 2017 rate increase for Commonwealth Edison.

The power-delivery rate hike goes into effect Jan. 1 and will add about $2 per month to the average household’s monthly electric bill.

Unlike Rauner when he agreed last week to sign the bill raising rates statewide to keep open two nuclear plants slated for closure by ComEd owner Exelon, the ICC had little choice but to approve next year’s rate hike.

That’s because ComEd’s rates are set according to an annual formula enacted over then-Gov. Pat Quinn’s veto in 2011. The formula permits the utility to quickly recover its $2.6 billion investment in upgrading the area’s power grid and installing smart meters in nearly 4 million homes and businesses. The formula gives regulators only minimal ability to influence ComEd’s requested rates. It also enables the utility to collect more from ratepayers if it doesn’t earn its allowed rate of return in a previous year.

With next year’s increase now set, ComEd will have hiked delivery rates by $734 million over the past five years under the 2011 law. That has raised the average ComEd household customer’s monthly bill, which currently exceeds $80, by more than $10.

posted by Rich Miller
Wednesday, Dec 7, 16 @ 9:09 am

Comments

Rauner signs. Rauner owns. But I’ll bet the Rauner Machine will find a way to stab D legislators who voted for it! I can just envision the spammish emails as the campaignin’ continues. Total lack of due diligence in pushing this bill through because of threats from Exelon which got a 3.5% stock bump on Friday when the bill was passed by both houses.

Comment by Anon221 Wednesday, Dec 7, 16 @ 9:15 am
Because, you know…this, along with the recent Exelon bailout bill, is WAY more important than passing a full budget to fund schools, social services, etc. I am counting the days (5 years, 3 months, and 24 days) before I can retire and move to Florida. The dysfunctional State of Illinois. Most of this can be blamed on Rauner, but Madigan and the Dems are not without fault. They’ve lacked the courage in the past to pass a progressive income tax and I don’t see that changing in the future. What a sham.

Comment by Ratso Rizzo Wednesday, Dec 7, 16 @ 9:20 am
But Rauner is proud of that Exelon bill, so we have that, which is nice.

Comment by Concerned Wednesday, Dec 7, 16 @ 9:23 am
Any real or nuanced distinction between this ComEd increase and any subsequent one fully associated with the bill the Gov is going to (twice!) sign will be lost on rate-payers who will hold Rauner accountable.

This was a big PR mistake by Rauner and his superstars … who got legislatively rolled by Madigan on this one.

Comment by Deft Wing Wednesday, Dec 7, 16 @ 9:23 am
Exelon/ComEd can roll state government and help themselves to the contents of your wallet whenever they feel like it.

They have the jobs, contracts and campaign contributions — financed by ratepayers — that enable them to get the green light to grab even more from ratepayers.

But they’re not tax hikes — they’re something-something else,
Iike “job creation.” But your wallet is still lighter.

Where’s the “reform” for that corrupt scam?

Comment by wordslinger Wednesday, Dec 7, 16 @ 9:23 am
Just don’t call em a “special interest”

Comment by Henry Francis Wednesday, Dec 7, 16 @ 9:30 am
Who really owns Springfield?
Not Boss Madigan.
Not Boss Rauner.

Comment by Keyrock Wednesday, Dec 7, 16 @ 9:30 am
Wordslinger: you know what’ll reform that? Repealing prevailing wage laws and pension reform! /s

Comment by thunderspirit Wednesday, Dec 7, 16 @ 9:31 am
Quid pro quo

Samolis delivers ILRB ruling

Rauner delivers to Exelon

“Nice to do business with you. ” fake Gov Rauner

Comment by Honeybear Wednesday, Dec 7, 16 @ 9:34 am
Thunder: don’t forget term limits and a property tax freeze, too.

Comment by GA Watcher Wednesday, Dec 7, 16 @ 9:39 am
This, friends, is how we make a sow’s ear purse out of a sow’s ear.

Comment by Dome Gnome Wednesday, Dec 7, 16 @ 9:39 am
This, friends, is how we make a sow’s ear purse out of a sow’s ear.

Comment by Dome Gnome Wednesday, Dec 7, 16 @ 9:39 am
What do you mean now they tell us? You didn’t realize what formula rates meant back when the GA overrode Quinn’s veto?

Still think Exelon is “desperate”?

Comment by Daniel Plainview Wednesday, Dec 7, 16 @ 9:43 am
>They have the jobs, contracts and campaign contributions — financed by ratepayers — that enable them to get the green light to grab even more from ratepayers.

Sounds like the rhetoric used against public unions. /s

Comment by Earnest Wednesday, Dec 7, 16 @ 9:48 am
But I thought it was those corrupt Unions that we had to worry about? /s

Comment by The Dude Abides Wednesday, Dec 7, 16 @ 9:55 am
Earnest, it is the rhetoric used against unions. But they’re not even in the ballpark with Exelon/ComEd.

Supposedly, Rauner couldn’t be rolled because he had so much dough.

But he found out who’s the hog with the big n— in this state.

Comment by wordslinger Wednesday, Dec 7, 16 @ 10:00 am
The Port Byron signing ceremony…

http://wqad.com/2016/12/07/watch-illinois-gov-bruce-rauner-sign-the-future-jobs-energy-bill-live/

Comment by Anon221 Wednesday, Dec 7, 16 @ 10:02 am
Radogno even showed up and brought her own mic!

Comment by Anon221 Wednesday, Dec 7, 16 @ 10:13 am
And now… Chris Crane (CEO of Exelon) takes the stage at 10:15 am.

Comment by Anon221 Wednesday, Dec 7, 16 @ 10:16 am
I can’t wait for the sears bail out bill to surface

Comment by Foster brooks Wednesday, Dec 7, 16 @ 10:19 am
Rauner on now at 10:22 in full campaign mode.

Comment by Anon221 Wednesday, Dec 7, 16 @ 10:22 am
Any bleeding heart liberal democrat who voted for this bill on the green energy issue should be voted out of office! The folks they claim to fight for are going to be devasted when their bills go up. Once again misplaced priorities!! I am not saying that clean energy and energy efficiency do not have their place, but when you compare it to households that will have to decide on buying medication or food when their utility bills go up….well the answer should be obvious. Allowing ComEd to now make profit off of EE is sinful how could the Clean Jobs Coalition agree to that and how could the legislators not see they are picking winners (billion dollar profit companies) over the most needy in the state. I hope folks keep talking about this and those yes votes are held accountable in 2 years.

Comment by Anon 1776 Wednesday, Dec 7, 16 @ 10:26 am
This is good for the “bidness” environment right?

Comment by JS Mill Wednesday, Dec 7, 16 @ 10:26 am
Rauner is touting this as the bipartisan pathway to the Illinois budget and… wait for it… REFORMS! Started around 10:25 am on the WQAD feed. He’s not willing to gamble on losing these couple of thousand jobs or these communities, but there is no mention of higher. He also stated what his “travel itinerary” will be for gettin’ jobs back to Illinois. He’s using 12 pens to sign the bill at 10:29 am.

Comment by Anon221 Wednesday, Dec 7, 16 @ 10:29 am
JS Mills- Yepo! That’s what Rauner shouted out to the crowds. Ain’t and son-of-a…gun, too, were included in the word jumble.

Comment by Anon221 Wednesday, Dec 7, 16 @ 10:31 am
So, my tax dollars are going to bail out a large profitable corporation AND I’m going to pay more in electric rates? Lucky me!

Comment by Steve Rogers Wednesday, Dec 7, 16 @ 10:35 am
My post at 10:29- Didn’t finish the sentence. There was no mention of the damage and job loses to hundreds of communities throughout the State of Illinois due to Rauner’s contract freeze in 2015 and only K-12 funding budget. I guess it would be hard to get a high school band to play for you for those low paying, State contract fulfilling social service providers.

Comment by Anon221 Wednesday, Dec 7, 16 @ 10:38 am
I am looking at the pictures of the bill signing crowds tweeted by Rauner. Those are real crowds. This seems to be popular stuff. This is real, predictions about the consequences are just that.

Comment by Peters Post Wednesday, Dec 7, 16 @ 11:07 am
Peters Post- “This is real, predictions about the consequences are just that.”

And if those predictions actually, literally hit home because of lack of due diligence by Rauner and legislators… then what? Rauner may be gone, Madigan may be gone, but the costs of this bill will remain. And, if you think Exelon is done going to the public trough, just wait until decommissioning costs kick in, which WILL eventually happen. We ain’t done paining and paying yet.

Comment by Anon221 Wednesday, Dec 7, 16 @ 11:35 am
Be clear this was only the start. Demand charges are already coming in the next big ComEd bill. It just isn’t efficient for the company to charge only what people use.
They will be back oh yes they will be back.

Comment by DuPage Bard Wednesday, Dec 7, 16 @ 12:03 pm
Clinton coverage on the local radio station-

http://radio.securenetsystems.net/v5/WHOW

Comment by Anon221 Wednesday, Dec 7, 16 @ 1:58 pm
DuPage is absolutely right… so is Keyrock.

Comment by Notorious RBG Wednesday, Dec 7, 16 @ 2:29 pm
Rauner up now… sounds exactly the same as the Port Byron speech. Just changing the team and community name.

Comment by Anon221 Wednesday, Dec 7, 16 @ 2:55 pm
Rauner even did the exact same “I’m a …son-of-a- (pause- wait for it)…gun” shtick. And, BTW, he’s gonna travel and BRING THOSE JOBS BACK… even from Germany!!!

Comment by Anon221 Wednesday, Dec 7, 16 @ 3:02 pm
Even doing the “one pen per letter” bit. He calls it a skill…

Comment by Anon221 Wednesday, Dec 7, 16 @ 3:02 pm