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[The following is a paid advertisement.]
The Illinois Grid Modernization legislation (SB 1652) has unprecedented consumer protections in place.
• Eliminates automatic rate increases: Creates an annual process for the ICC and intervenors to review utilities’ costs. The utilities must show that investments were made prudently or they are disallowed. No rates are set until 8-month review is complete.
• Includes enhanced performance standards for utilities with financial penalties if targets are not reached. The tougher metrics include reliability and customer service goals that will hold utilities accountable.
• Lowers the utility profits-level.
• Mandates that if the average residential rate increase exceeds 2.5% annually by 2014, the program terminates.
• Sunsets the entire law in 2017 requiring the utilities to reapply to the General Assembly to continue the program.
• Caps utility earnings with any dollars exceeding the cap (during a particularly hot summer for example) being returned to customers.
The grid modernization bill addresses stakeholder concerns about consumer protections. Other states are on the move, and we need to get moving building the energy infrastructure the 21st century is demanding. The time to act is now.
posted by Advertising Department
Friday, May 27, 11 @ 6:18 am
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Previous Post: SUBSCRIBERS ONLY - Supplement to today’s edition and a huge Statehouse roundup
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