ComEd/Exelon: $1 Billion Guaranteed Profits On $2.4 Billion In Programs
Tuesday, May 31, 2016
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While Exelon’s $2.6 BILLION nuke bailout “reeks” as the Quad City Times editorialized, perhaps even more outrageous is that ComEd/Exelon’s so-called “Next Generation Energy Plan” GUARANTEES more than $1 billion in profits on program spending of just $2.4 billion for the first 10 years.
Instead of passing-through expenses with no mark-up for programs like energy efficiency, which has been done for years, NGEP forces ratepayers to borrow from ComEd and then pay guaranteed profits with no risk. It’s like a massive statewide predatory lending scheme.
In total, ComEd/Exelon’s bailout bill is a $7.74 BILLION RATE HIKE over ten years.
ENOUGH IS ENOUGH.
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