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"This morning I made it clear that I
would not support legislation concerning Exelon's pending purchase
of Illinois Power if the legislation included an early rate review
for consumers. This afternoon, Exelon agreed to the conditions I
outlined, ensuring that the legislation will not ask consumers to
shoulder the cost of the merger.
"Exelon also agreed to reduce the
number of planned layoffs by as much as half, make significant
investments in central Illinois' energy infrastructure to reduce the
likelihood of blackouts, and make substantial new investments in
renewable energy.
"By
rescinding their requests for rate reviews for Exelon and Illinois
Power customers, the legislation can now protect consumers, preserve
jobs, strengthen the infrastructure and help the environment.
Today's news is a good step forward," Blagojevich said.
[News release]
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