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ComEd asks ICC for $60 million
Sept. 1, 2010 — On the heels of a request for a 7 percent rate hike, Commonwealth Edison is asking the Illinois Commerce Commission to add $60 million to fund additional improvements.
by Julie Wernau, Chicago Tribune ComEd was set to submit the supplemental filing Tuesday and said the additional funds would add 25 cents per month to customer’s bills over two years beginning in mid-2011. ComEd’s original rate hike proposal, submitted June 30, would add just under $6 per month to electricity bills. Both issues will be decided by the ICC over the next nine months. The utility said the additional monies requested this week would mean $45 million to accelerate the modernization of the electricity distribution system, $10 million to increase assistance to low-income households and $5 million to purchase electric vehicles and charging stations. As part of the proposal, ComEd is also offering up an alternative regulatory structure that would allow ComEd and ratepayers to share in any cost savings as programs are implemented. Traditionally, utilities are simply repaid for any upfront costs. |