[The following is a paid advertisement.]

…New name, but the same game.

ComEd has developed a new tactic to urge passage of their automatic rate hikes legislation – just give it a different name. ComEd claims that Senate Bill 1652 is better and addresses many of the concerns raised about House Bill 14. But the new bill is still bad news for Illinois consumers and businesses.

Senate Bill 1652 ensures higher utility company profits – at the expense of consumers - by guaranteeing a return on equity of over 10%. The formula rate proposed in the bill still mean that customers will face nearly automatic rate increases for six years. ComEd claims the new bill includes higher performance standards related to reliability, customer service and job creation. ComEd setting their own performance standards is much like the wolf guarding the hen house.

The bottom line is that ComEd is still attempting to use Illinois law to subsidize their corporate profit margins. AARP is opposed to Senate Bill 1652 and urges lawmakers to reject the bill.

Don’t be fooled by the new name, Senate Bill 1652 is still a wolf in sheep’s clothing.