The parent companies of Illinois’ major electric, cable, natural gas and phone companies made a total of $17.7 billion in profits last year, according to a CUB review of recent filings with the Securities and Exchange Commission.
Comcast: The cable, phone and Internet giant saw its 2014 profits top $8.4 billion (or about $23 million per day).
AT&T: The telecommunications giant, the parent of the largest local phone company in Illinois, had profits of $6.2 billion.
Exelon: Illinois’ largest energy company (and ComEd’s parent) made $1.6 billion in 2014.
Ameren: The St. Louis-based parent company raked in $587 million in 2014, thanks in part to its Illinois electric and gas utility, which increased its earnings by about 26 percent.
AGL Resources: Nicor Gas’ Atlanta-based parent company made record earnings of $482 million, up about 63 percent from the previous year.
Integrys Energy Group: The Peoples Gas parent company took home $276.9 million.
Frontier Communications Corporation: The parent company of the local phone company made $132.9 million in 2014.
Total 2014 profits: $17.7 billion
At the same time these companies are raking in big profits, CUB is fighting more than $1 billion in higher rates. Some of our current battles:
- Appealing $436 million in Ameren/ComEd electric rate hikes.
- Fighting a legislative plan by Exelon to add an electric surcharge that would increase Ameren and ComEd power bills by an estimated $300 million a year.
- Challenging a $53 million gas rate-hike request by Ameren Illinois.
- Appealing Peoples Gas/North Shore rate hikes totaling $74.6 million.
- Fighting an AT&T/Frontier deregulation plan to rid Illinois of low-cost home phone service.
- Fighting an appeals court battle to capture a $200 million Nicor Gas refund.
Help us fight by joining CUB’s Action Network to let your voice be heard!