ComEd will pay more than $46 million in customer refunds to settle two lawsuits, the Illinois Attorney General’s office announced Thursday.
The $46.2 million in refunds will be paid to customers in the form of credits to their accounts on their November electric bills, according to a statement from the AG’s office. Amounts will vary, but the average refund is $8 per account.
Former ComEd customers who received service between October 2010 and December 2012 will be eligible for refunds after demonstrating they were customers during that time period.
The AG’s office and Citizens Utility Board brought two lawsuits against ComEd in 2008 and 2010.
The first arose from a rate increase that included surcharges on customer bills to pay for “smart grid” infrastructure improvements. Madigan’s office alleged the surcharge violated the Illinois Public Utilities Act.
The second lawsuit alleged the Illinois Commerce Commission inflated the value of ComEd’s investments, which erroneously resulted in higher rates.
