* Jamie Munks at the Tribune…

Gov. J.B. Pritzker’s administration is proposing a series of “accountability” measures for utility companies as part of an energy policy agenda unveiled Friday, a month after federal prosecutors said the state’s largest utility, Commonwealth Edison, engaged in a “yearslong bribery scheme” while seeking political favors in Springfield.

Improving transparency and ethics is the first of eight principles in Pritzker’s agenda, which also includes a number of clean energy proposals. […]

The agenda also calls for an additional disclosure requirement for elected and appointed officials if they have relatives who work for regulated utilities. […]

In a statement issued Friday morning, ComEd spokeswoman Shannon Breymaier said company officials are reviewing Pritzker’s energy proposals. She also said that past infrastructure investments “have been fully vetted in a transparent process” and have benefited customers.

“ComEd has already moved aggressively to implement comprehensive ethics reforms to ensure that the unacceptable conduct outlined in the agreement with the U.S. Attorney’s Office never happens again,” Breymaier said in a statement. “However, we recognize the importance and challenge of rebuilding the trust of the public, regulators and elected officials, and look forward to working with these stakeholders to achieve the state’s ambitious clean energy goals.”

* Sun-Times…

Declaring that utilities “can no longer write the state’s energy policies behind closed doors,” Pritzker’s office issued a set of proposals Friday that include getting rid of the state’s formula rate system, banning utilities from making charitable contributions and requiring elected officials to report any relatives who work for a regulated utility company in their ethics filings.

The proposal (click here) doesn’t outright ban charitable contributions. It bans utilities from using ratepayer money for contributions (which often go to charities favored by elected officials). That money would have to come from profits if Pritzker has his way.

...Adding… I’ll put the full press release on the live coverage post, but here are his 8 principles…

1. Strengthen Utility Company Transparency and Ethics Requirements
2. Expand Consumer Affordability Protections
3. Make Illinois a Renewable Energy Leader and Phase Out Dirty Power
4. Implement a Market-Based Solution That Supports Clean Power and Clean Air
5. Electrify and Decarbonize Illinois’ Transportation Sector
6. Support Communities Transitioning to Clean Energy
7. Advance Equity in the Growing Clean Energy Economy
8. Enhance Energy Efficiency in Illinois

* WBEZ…

Tops on the governor’s wish list is an immediate repeal of so-called formula rates, which ComEd won in 2011 through a bill that former Gov. Pat Quinn vetoed. His veto later was overridden by the General Assembly.

That rate structure enabled ComEd to automatically get increases to cover any operating losses, which essentially guaranteed the company a profit every year. The law limited the role of the Illinois Commerce Commission in setting rates.

The rate structure is due to expire in 2022, but the company has actively pushed for an extension. […]

Pritzker’s demands also include the elimination of deposits and late fees for low-income residential ratepayers and an end to fees assessed for the online payment of bills.

Additionally, the governor is seeking beefed-up disclosure of shut-offs and reconnections to state utility regulators, which were not consistently reported before Pritzker’s COVID-19 moratorium on shutoffs.

* The real meat is covered by Crain’s…

Pritzker also is “highly skeptical” of Exelon’s proposal, mirrored in the environmentalist-supported Clean Energy Jobs Act, to have the state take over from a federally chartered regional power administrator the task of setting prices reflected in electric bills paid to power plants to promise to deliver during high-demand periods, Mitchell says. The state would be directed to have consumers pay more to carbon-free power sources like Exelon’s nuclear plants than coal- and natural gas-fired plants emitting heat-trapping gases.

“The first step in that (policy) is to annually pay each of Exelon’s nuclear plants an amount equal to three times the current taxpayer subsidy that two Exelon plants already receive without any strings attached and without Exelon showing us their math as to why this is necessary,” according to a document laying out the governor’s principles. […]

Instead, the governor supports setting a price on carbon emissions from power plants and then letting the market determine which plants survive or not. Such a method would probably mean more revenue for Exelon’s financially ailing nukes. But not nearly as much.

Any extra support for Exelon plants—the company has warned that without ratepayer help it will have to close three of its four nuke stations not currently subsidized—would require the company to open its books to the state on a plant-by-plant basis. Exelon wasn’t required to do that the last time it asked for subsidies.

A carbon fee would be controversial, since it would likely mean higher costs for many consumers. But it’s not without precedent, and there are advocates for that approach from both the left and right sides of the political spectrum. A multi-state carbon market has been in place in the Northeast for 15 years. Mitchell says Pritzker is open to a regional market in the Midwest as well if other states are interested.

Pritzker’s market-based approach has been hotly opposed by Exelon/ComEd and the enviros. The environmentalists are “highly skeptical that a carbon market can meet equity concerns.”

The problem with Pritzker’s approach, as I see it, is he wants to toss out existing plans and doesn’t really have a concrete alternative, just a concept…

Some advocates have concerns that a market-based approach to carbon pricing will result in more-polluting plants being able to operate longer because they will be able to pay their way out, and will allow them to continue polluting communities that are already disproportionately experiencing the impacts of climate change.

However, we know that there are ways to structure a carbon pricing program to make sure that this does not happen, and we are committed to achieving that principle in any program that we design and implement. Coal-fired power plants that do not capture carbon are on their way out in Illinois and nationally. It is our goal to design a program that accelerates closures, while re- directing revenue to other clean energy pursuits.

They’ve essentially punted the issue to the working groups. That’s probably where it belongs, though.

Aside from that, it looks like a pretty good plan.

…Adding… Illinois Chamber…

“We applaud Gov. Pritzker for standing up for Illinois against corruption with this thoughtful, serious energy plan,” said Illinois Chamber of Commerce President and CEO Todd Maisch.

“By ruling out another Exelon bailout, the governor has saved ratepayers in Illinois, including residential customers and small businesses, an estimated $414 million.”

“A well-crafted plan made up of diverse and reliable sources of energy that considers both environmental, and ratepayer needs is critical to Illinois’ economic future. The Chamber has long supported these goals and worked with Illinois Senate President Pro Tempore Bill Cunningham to propose a balanced approach to these issues, that prioritizes the needs of energy consumers and provides thousands of jobs for Illinois workers.

“We appreciate the Governor’s Office’s thorough review of Illinois energy policies and are energized to see some of these initiatives included in their initial plan. We look forward to working with him, Sen. Cunningham and other legislators, staff and stakeholders to continue to develop balanced energy polices for Illinois.”