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New boost? No way!

20150304_ExelonPollRecent survey results reveal that CUB Action Network members aren’t too keen on an Exelon proposal that could increase power bills by $300 million per year.

Or, as one feisty member put it:

“They are already ripping off the public with high rates. Enough is enough!”

Crain’s Chicago Business reported last week that Exelon—ComEd’s parent company— is expected to push for legislation to boost six of its failing nuclear power plants in Illinois (read CUB’s statement here).  The company wants state legislators to approve a 2 percent surcharge that could increase ComEd and Ameren bills by an estimated $300 million per year.

We asked CUB Action Network members for their thoughts, and the results were pretty clear.  In a CUB poll, 92% of respondents said they were “very concerned” about Exelon’s plan, which many are calling a full-fledged “bailout.”

Here’s what other survey respondents had to say:

  • “[Exelon] makes huge profits, yet they always want to pass THEIR expenses onto their customers to pay.”
  • “The rich get rich and the poor get poorer. Business as usual.”
  • “This is a further attempt to nickel and dime Illinois consumers.”
  • “I call this a rip-off. They already make enough profits for the fat cats. They don’t need to add more charges to our electric bills.”
  • “I would call it legalized extortion.”
  • “It always falls on the customer. That is just wrong. These companies make large profits year after year.”

CUB plans to review Exelon’s proposal, but what we’ve heard so far raises serious concerns.  After all, it’s hard to stomach a revenue boost for a company that has earned $20 billion in profits over the past decade.  As CUB Executive Director David Kolata said,

“Anything resembling a full-fledged bailout of Exelon’s nuclear plants would be radioactive for our pocketbooks, and should be rejected by the state.”

For more background on the issue, see our previous post here.  Stay tuned to CUB’s WatchBlog for more information on Exelon’s plan.