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The 1997 electric restructuring law wisely created a transition period in which rates were frozen to protect consumers until competition developed.  This rate freeze was originally set to expire last January.  But in 2003, the General Assembly extended the freeze for two additional years for a very simple reason: There wasn’t any competition. 

While residential customers could theoretically choose another electric supplier, there weren’t any companies willing to offer service to residential customers, so the General Assembly extended the rate freeze.

But now it’s 2006 and residential customers still don’t have any choice. Nothing really has changed. And because nothing has changed, it’s only fair and consistent that we continue to support affordable electricity prices.

Under our current rate structure, both Exelon/ComEd and Ameren have record profits, record earnings, and a record share price.

Exelon/ComEd, in fact, is the most profitable electric utility in the entire US and is actually cutting rates in other parts of the country like Pennsylvania.

Exelon/ComEd is to electricity what Exxon Mobil is to oil. Any claims to red ink are simply a red herring.

Let’s stay the course and continue to support affordable rates for customers who literally have no other options. Vote Yes on HB 1944 (#1).