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Illinois House Public Utilities Committee Passes Resolution (22-1) Urging Corrective Action by ICC to Restart Grid Modernization

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ComEd is grateful to the Illinois lawmakers who have supported a Resolution that calls upon the Illinois Commerce Commission (ICC) to stay true to the statutory directives and intent of the Energy Infrastructure Modernization Act (EIMA).

This House resolution, passed out of the Public Utilities Committee last month by a vote of 22-1, strongly urges the ICC to consider reversing its ruling on key issues in ComEd’s first Formula Rate filing under the new law. By denying the recovery of actual costs – in contradiction to the legislation — the ruling results in a revenue shortfall for ComEd that would be more than $500 million over five years and put the entire smart grid initiative in grave jeopardy.

A rehearing on these issues is under way. We commend the ICC for taking additional time to study the matter and consider new evidence. We remain hopeful that they will recognize that the EIMA was created to provide the predictability that will enable utilities to make the long-term investments required to meet the needs of customers and the demands of a digital 21st century economy.

We worked at an accelerated pace through the first half of this year, creating hundreds of new jobs and new opportunities for Illinois businesses in the process. While we remain committed to the 10-year, $2.6 billion EIMA program, the revenue reduction has already forced us to delay the deployment of key initiatives, including the installation of smart meters. We are hoping, of course, that the rehearing will enable us to get the program back on track, but to do that, the integrity of EIMA must be upheld.

posted by Advertising Department
Thursday, Aug 16, 12 @ 7:38 am

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