Commonworth Edison Co. has filed paperwork with the Illinois Commerce Commission to raise rates by 97 cents.
The money is earmarked for improvements to the local power-grid required under the 2011 “smart grid” law, according to Crain’s Chicago Business.
The law allows ComEd to recover $2.6 billion from tax payers over the next decade, but the utility has promised not to raise rates by more than $3 per month for the average home owner over the 10-year course of the program.
“This new annual update process paves the way for long-term investments in the system that will deliver tremendous value and benefits to our customers while minimizing the impact on rates,” ComEd CEO Anne Pramaggiore said in a statement.
The Illinois Commerce Commission is reviewing the request.