|
Ill. governor hopeful about energy rate bill
May 23, 2011, Chicago — Illinois Gov. Pat Quinn said Friday he is hopeful legislation to support utility upgrades is headed in the right direction with a new version being discussed.
By Zachary Colman, The Associated Press
Read the original version of the story on Bloomberg Business Week's website..
Quinn said an earlier version of the bill is "dead as a duck" in part because it allowed utility rate increases without government approval. That provision was a sticking point for Quinn, but he expressed optimism about ongoing negotiations during a Friday news conference in Chicago. (Read CUB's take on the original version of House Bill 14.)
"There has to be a review, there's no question," Quinn said. "I think the company got a wake-up call that their proposal was way out of bounds. They need work on the one they have now." The legislation would install smart meters that would tie utilities' energy output more closely to homes' demand for electricity. But some worry utility companies are asking ratepayers to finance improvements that the companies should pay for themselves. Rep. Kevin McCarthy, D-Orland Park, the bill's chief sponsor, said he has made several changes to the original. The new version calls for the Illinois Commerce Commission to conduct rate reviews in eight months instead of 11. Utility companies had complained about the lengthy process. Also, the law would sunset after six years instead of the original 10. McCarthy said the new version also contains stronger measurements of power companies' reliability and performance. "We're working with the governor and everyone on this bill, and I am not giving up on it," McCarthy said. Quinn said he has met with representatives from Commonwealth Edison Co. and Citizens Utility Board to find common ground. ComEd said in a statement that discussions are ongoing. Associated Press writer Christopher Wills contributed to this report from Springfield. Tweet |