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As opponents continue to ignore closing coal plants and rising electric costs, the REVISED SB 678 offers SAVINGS FOR RATEPAYERS and LOW, HARD RATE CAPS FOR ALL CUSTOMERS. The new SB 678 would:

• Save Illinois ratepayers an expected $437.7 million over 20 years with below-market energy costs – yes you read that right – the revised Tenaska plant would have BELOW MARKET COSTS
• Require Tenaska to absorb 100% of any cost overruns
• Cap even the possibility of a rate hike at .75% for residential customers (less than 60 cents per month);
• Cap even the possibility of a rate hike at $0.00085 per kilowatt-hour for ALL larger customers
• Postpone coal-to-natural gas portion of Taylorville plant and preserve it as a hedge against potential future natural gas price increases, a back-up plan that couldn’t go forward without General Assembly approval.

Illinois needs to take action now. As the Chicago Tribune reported on May 17:

Residential electricity rates are expected to spike more than 10% beginning in 2015, with consumers paying between $150 and $330 a year more than this year, as coal plants, the least expensive producers of electricity, continue to close.

Tell legislators you agree with CUB, the Attorney General, business, labor and environmental groups that you want a smarter energy future in Illinois.

Tell them to approve SB 678 now.