Statement from Gov. Rod R. Blagojevich on ICC approval of electricity auction

[JAN. 25, 2006]  CHICAGO -- "I am disappointed in today's decision [Jan. 24] by the Illinois Commerce Commission. Their vote to allow ComEd and Ameren to conduct a power auction to purchase electricity, without any limit on the rate hikes that may result, is not in the best interests of working people nor the economy of our state.

"The auction design leaves Illinois consumers exposed to the substantial risks of a volatile electricity market. Residential customers have no choice but to buy electricity from the monopoly utility company, and it's the job of state regulators to make sure that power is affordable and reliable. Under the approved auction plan, the ICC will no longer regulate the price of electricity supply, and consumers will foot the bill, no matter how high. This policy is both unwise and unfair.

"I will continue to work with the attorney general, the Cook County state's attorney, the Citizens Utility Board and other parties to oppose this plan. I call upon the ICC to reconsider its order and to fulfill its regulatory responsibility to ensure that Illinois consumers are protected from excessive electricity rate hikes.

"And now that consumers may face an even more uncertain future when it comes to energy costs, I urge the ICC and the utilities to quickly and aggressively move forward on their commitment to investment in alternative energy sources like renewable energy and coal gasification, as well as energy efficiency. These investments will not only provide long-term environmental and economic development benefits, but will help reduce electric bills in the future. An expanded Sustainable Energy Plan, which was initially adopted upon my recommendation last year, could save Illinois households nearly $3 billion dollars by 2020 and create new jobs across our state."

[News release from the governor's office]

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