ComEd Asks for Rate Hike

Utility filed paperwork asking to raise rates almost $1 per month

By Jennifer Schwarz
|  Tuesday, May 1, 2012  |  Updated 8:40 AM CDT
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ComEd Asks for Rate Hike

NBCChicago.com

ComEd is asking for a rate hike of about 97 cents.

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.

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