Commonwealth Edison Co. wants to tack on a few more bucks to your monthly bill.
The utility has asked the Illinois Commerce Commission for $311 million more in revenue from customers in 2014, which breaks down to a $5 hike each month for an average household. If rate increase is approved, the cost of electricity delivery and transmission would go up next year.
ComEd says it needs the money for power-grid upgrades required under the 2011 “smart grid” law. The utility's CEO has said the money paves the way for long-term investments "that will deliver tremendous value and benefits to our customers."
Still, ComEd expects rates to drop this summer as the price of energy decreases beginning in June. According to Crain's Chicago Business, an average bill of $81 will fall to about $66 this summer. That rate would rise to $72 in January if the new hike is approved.
The utility filed paperwork with the Illinois Commerce Commission last year to raise rates by 97 cents.