The parent companies of Illinois’ major energy and telecom companies have made $12.5 billion in profits so far this year— so why exactly are so many Illinois utilities still asking for higher rates?
Just check out these monster profits:
Can you believe it? The parent companies are raking in the dough, but the utilities are still trying to bleed us dry! That’s why CUB’s agenda for next year is more important than ever:
Block Exelon rate-hike bill: Illinois’ biggest energy company is pushing state legislation that would add a surcharge to ComEd and Ameren bills to boost revenue for its nuclear power plants. That would raise bills by up to $1.6 billion over five years. CUB helped fight Exelon to a standstill in 2015, but the company hasn’t given up on its bill.
Block cost overruns: The cost of Peoples Gas’ pipe replacement program has skyrocketed to $7-$8 billion. CUB and Attorney General Lisa Madigan want a total revamp of the program, and will monitor the utility’s actions in 2016. Thanks to an AG/CUB petition, state regulators also are probing whether Peoples officials lied about the program’s cost.
Fight gas/electric rate hikes: CUB is currently awaiting state regulatory rulings on $150 million in Ameren gas/electric rate hikes, and we are pushing for a ComEd rate cut of more than $55 million.
Secure Nicor Gas refund: CUB is fighting for a $22 million refund for Nicor customers, arguing that the utility made unwise gas purchases in a past winter.
If you’d like to help CUB fight these battles in 2016, please. For this week only, CUB will send you one of our special winter mugs if you give a donation of $20 or more!
We appreciate any donation—big or small, because it can help us protect your bottom line. Thank you!