In Tuesday's proposal, the utility reportedly offered the
cash-strapped state government $500 million upfront in exchange for
guaranteed future profits on electrical rates.
ComEd and its
parent company, Exelon Corp., also offered a pledge to commit $1
billion over the next decade to projects that they estimated would
create 2,000 new "green" jobs in the state.
Quinn said he wouldn't comment on the proposal until he knew
exactly what was in it.
David Kolata, executive director of the Citizens Utility Board,
said the deal would be bad for consumers by locking in higher
electrical rates than they would normally be paying.
Copyright 2010 The Associated Press. All rights reserved. This
material may not be published, broadcast, rewritten or