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IL energy, cable & phone companies made $17.7 billion in 2014

20150313_2014Profits_fbThe 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!