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ICC
considers payment options for utility consumers
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[DEC.
21, 2006]
SPRINGFIELD
-- State
Sen. Bill Brady, R-Bloomington, urged the
Illinois Commerce Commission to use its power to give consumers some
relief from electric rate increases expected to take effect next
month.
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Both Ameren and ComEd submitted plans with the ICC that will
allow consumers to phase in rate increases over three years, while
still ensuring reliable service.
In a news release Tuesday leading up to a meeting of the
commission on Wednesday, Brady said the ICC should make the decision about these plans,
which give consumers payment options and offer some relief --
something the General Assembly did not accomplish during veto
session in November because Democratic leaders did not agree on how
to address the issue.
"It's bad enough that the lack of Democrat leadership has put us
in this position," Brady said. "I am calling on the Illinois
Commerce Commission to act ... and, at minimum, accept the phase-in
rate plan offered by the utilities."
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 Ameren's plan offers an increase of 14 percent per year over the
next three years to all customers, including residents, schools and
small businesses. In order to take advantage of the phase-in,
customers would have to pay a below-market interest rate of 3.25
percent per year.
ComEd's proposal offers an optional program that would cap bill
increases at 10 percent in 2007, 2008 and 2009. However, if the
capped increases do not cover all of the company's costs for those
years, then customers who opt for the plan would have to pay back
the difference between 2010 and 2012.
[News release from
Sen. Bill Brady]
Reports on approval
by the Illinois Commerce Commission:
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