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Why a freeze was a bad idea

 

Chicago Sun-Times Editorial
July 25, 2007

The sharply higher electric rates that started in January -- after a decade-long freeze -- sparked many angry calls for the rates to be frozen again.

apartment kiev www.bestkievapartment.com But as attractive as a rate freeze sounded, power customers will come out ahead under the $1 billion rate relief deal that state leaders negotiated with the power industry. That's because ComEd was all but certain to challenge the move in court. And it would have had a pretty good case, arguing that the state was ordering it to buy power for more than it could sell it. It also would have argued the state was changing the deregulation rules in the middle of the game.

If ComEd won, the state would have been in a weaker position to negotiate. And even if it prevailed, power customers wouldn't have received any relief as the case dragged on.

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 Latest News
Why a freeze was a bad idea
As attractive as a rate freeze sounded, power customers will come out ahead under the $1 billion rate relief deal that state leaders negotiated with the power industry.

Electricity and deregulation
People who complain about the current rates need to remember we directed our elected representatives to bring about this change in the first place in return for the benefits of a deregulated utility industry.

Electric rates still subject of debate
Key players in the state debate over high power bills emerged from an hours-long, closed door meeting Thursday using a similar — and familiar — refrain. "We made substantial progress," said House Speaker Michael Madigan, D-Chicago.

Progress' made on utility rates
I think there was enough progress made that there's the possibility of an end in sight," said Sen. Dale Risinger, a Peoria Republican who is his party's spokesman on the Senate Environment and Energy Committee.

ComEd says it's spent $8 million on bill aid
"So far, ComEd has issued credits between $30 and $240 to more than 200,000 customers as part of a $64 million relief package. ComEd officials said by the end of June more than $15.5 million in relief will be distributed."

The day after the freeze
"Lawmakers will make a mistake, though, if they turn the negotiations into an extortion attempt. That seems entirely possible. Commonwealth Edison and Ameren, the state's two largest electric utilities, have offered $500 million in rate relief and discounts."

Utilities propose $500 million ln Ill. power rate relief
"The three-year $500 million rate relief and consumer assistance proposal would provide $300 million for ComEd customers and $200 million for Ameren customers through 2009."

 
 
 
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