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The governor briefly tried to block these hikes last year, then apparently gave up. It didn’t help that he packed the Illinois Commerice Commission and its staff with pro-utility hacks when he first took office.
ComEd introduced a plan Tuesday that would raise but limit residential electric rates for three years, a move the company says would lessen the impact of rate increases slated to begin next year.But a utility watchdog group contends the “rate stabilization” proposal actually would be more expensive for customers in the long run.
“Only ComEd could think of a supposed rate mitigation plan that actually costs customers more money,” said David Kolata, executive director of the Citizens Utility Board. “It’s really illusory and it’s based on a false promise.”
The plan filed Tuesday with the Illinois Commerce Commission would restrict average residential increases to 8 percent next year, 7 percent in 2008 and 6 percent in 2009. Costs that go over the caps would be “deferred and recovered” from 2010 to 2012, the company said in a release.
posted by Rich Miller
Wednesday, May 24, 06 @ 1:03 pm
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Well, when you block rate increases for 9 years (Not Rod’s fault), you get larger increses in the future. Rod cannot win either way. but knowing his MO, he will push it off for another several years forcing IL to deal with a larger increase in the future.
Comment by Wumpus Wednesday, May 24, 06 @ 2:09 pm
This could be the sleeper issue of the governor’s race. The ICC will have to vote on the results of the auction six weeks before the next election. The likely result is much, much higher than has been previously disclosed: 40%+ for ComEd, 50-60% for Ameren. Hard to see how this doesn’t impact Blago’s numbers.
Comment by icc-er Wednesday, May 24, 06 @ 2:12 pm
Back when the current rate freeze was put in place, a MW hour of power was running right about $37.00 (maybe up to $40.00).
Now it’s over $50.00 a MW hour (at the cheapest), and if you “wheel” the power to more electric power constained areas (like a CA, NY, or many other NE states), you jump above the $50.00 per MW hour all the way up to closing in on $70.00 per MW hour.
The rate freeze is going to expire, and if Excelon can’t get market prices here in IL, it will be able to sell the power elsewhere for more money. And the facts are that it’s currently easier for them to move the power out-of-state than it is to move the power into Chicago (power transmission capacity issues).
You want to keep price increases down? Make sure there’s excess generation capacity here in IL, and that you can easily move that excess power into the marketplace.
Right now, some of our electric power capacity constrained neighbors are enviously eyeing our “excess electric power” and working on the basis that there’s (potentially) the added capacity to fill their base power needs. Why do you think Excelon reversed themselves and decided not to go for decommission on Quad Cities, and is instead in process of getting the operating license extension for the facility? It’s not because of Chicago’s power requirements.
That’s a large part of the reason that Excelon is working to purchase the electric untility generator covering most of New Jersey - a new market for electric power, and not in IL, but in a power constrained marketplace.
CUB’s back to tilting at windmills, only in this case, it’s the Marketplace they’re really shouting at.
Comment by Making The Wheels Turn Wednesday, May 24, 06 @ 6:13 pm
I don’t think Marty Cohen was a pro-utility hack…Rod just forgot to get Emil Jones’ blessing on the appointment prior to his announcing his pick–Rod isn’t in the pocket of the utilities to the extent Jones is, he just didn’t think it through. ComEd’s Frank Clark just can’t raise enough dough for his pal Emil–the real bad guy here–Jones will take money and awards from his pal Frank and screw IL residential utility customers every chance he gets–but it’s ok cause they’re both African American “businessmen”–sickening–
Comment by Anonymous Wednesday, May 24, 06 @ 7:09 pm
To paraphrase Lloyd Braun:
“Am I crazy, or is my residential electric bill RIDICULOUSLY cheaper that ANY other utility bill?â€
I’m not begging for an increase, but given my other bills and how much electricity I use, I think Com Ed has a pretty good case for a modest rate increase.
Comment by 47th Ward Wednesday, May 24, 06 @ 9:25 pm
Emil is lousy on ComEd issues, but unlike Rod he has never pretended to care one bit about residential electricity consumers.
Rod threatened to remove any ICC commissioner who supported ComEd’s auction plan. They voted 5-0 for the plan and Rod didn’t lift a finger. I wonder why?
Clark, Frank & Vera 18603 Emily Court
Hazel Crest, IL 60429
Occupation: President
Employer: Com Ed $1,000.00
6/21/2002 Individual Contribution
Friends of Blagojevich
Rowe, John P.O. Box 805398
Chicago, IL 60680
Occupation: Chairmain
Employer: Exelon $1,000.00
6/26/2002 Individual Contribution
Friends of Blagojevich
Rowe, John P.O. Box 805398
Chicago, IL 60680
Occupation: Chairman
Employer: Exelon $1,000.00
10/8/2003 Individual Contribution
Friends of Blagojevich
Rowe, John P.O. Box 805398
Chicago, IL 60680
Occupation: Chairman
Employer: Exelon $10,000.00
7/21/2004 Individual Contribution
Friends of Blagojevich
EXELONPAC P.O. Box 805379
Chicago, IL 60680 $6,000.00
6/21/2002 Transfer In
Friends of Blagojevich
EXELONPAC P.O. Box 805379
Chicago, IL 60680 $3,000.00
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EXELONPAC P.O. Box 805379
Chicago, IL 60680 $2,000.00
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EXELONPAC P.O. Box 805379
Chicago, IL 60680 $500.00
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Chicago, IL 60680 $500.00
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Comment by Navin Johnson Wednesday, May 24, 06 @ 9:42 pm
Everyone know the ComEd/Ameren auctions are kinky, the following just proves it
ComEd auction ‘public meeting’ set for New York City
Illinois Attorney General Lisa Madigan has filed a complaint against Commonwealth Edison and Ameren, which is the parent company for Central Illinois Light Co., Central Illinois Public Service Co. and Illinois Power Co.
The public meeting to disclose more about Illinois’ upcoming and controversial power auction will be conducted in New York City, 900 miles from the Prairie State, according to NERA Economic Consulting, which is based in NYC.
NERA said the session is scheduled for the Jumeirah Essex House on June 1, more than three months before the Sept. 5 reverse auction that would furnish power for Commonwealth Edison and Ameren, the two largest power companies in Illinois.
Two other meetings, closed to the public and press, will be June 6 in New York City and June 7 in Rosemont, Ill. These meetings are restricted to bidders only.
Comment by Reddbyrd Thursday, May 25, 06 @ 9:30 am
It didn’t help that he packed the Illinois Commerice Commission and its staff with pro-utility hacks when he first took office.
WRONG!
4 of the 5 ICC Commissioners were appointed by Blagojevich. It is his Commission listening to his suggestions. The fact that they ignored his threats says that there is more to this issue and Blagojevich knows it.
Comment by VanillaMan Thursday, May 25, 06 @ 10:52 am
Perhaps IL govt is eagerly anticipating much higher tax revenues due to higher utility bills.
Unlike small business, voters get spared sharp hikes, so they don’t revolt in November.
If we consumed electricity like CA residents, we’d all being using 40% less, saving a lot of money by importing a lot less high mercury coal from out West.
It would be better if everyone paid the same amount for a KW of electricty, rather than giving discounts for using more, which only encourages more waste and makes IL businesses less competitive.
IL business should contact the Waste Management Resource Center (WMRC) for state help lowering utility costs ASAP!
Comment by Anonymous Thursday, May 25, 06 @ 3:02 pm
Let me get this straight. The Governor appoints, in your our words, “pro-utility hacks” up front, then spends the rest of the time railing against the possiblity of approving rate hikes. Classic Blagojevich politics - set up what your “money” friends want, then you not onlt get the contributions for doing so, you also get the “bad guy” this Governor always wants around to help portray himself as a “man of the people.” He is approach to governance and politics is repugnant.
Comment by Sppeedracer Friday, May 26, 06 @ 2:57 pm