In a tight economy, with a state budget that is in crisis, older adults across Illinois are struggling to make ends meet. To make matters worse, utility giant ComEd is pushing for legislation that will result in automatic annual rate increases for consumers across Illinois.
The bill, the Infrastructure Modernization Act, would allow all investor-owned utility companies in Illinois to automatically raise your electric and gas rates every year. ComEd’s bill would impact customers served by ComEd, Ameren, People’s Gas, North Shore Gas and Nicor gas.
ComEd’s legislation, House Bill 14, is being sponsored by Representative Kevin McCarthy. The bill also eliminates much of the oversight currently provided by the Illinois Commerce Commission. Illinois’ regulatory framework exists to balance the interest of utilities with those of the residential and business customers they serve. Their legislation would render a system that’s been in place for nearly 100 years useless, and would leave millions of residential and business consumers without a voice and at the mercy of utility companies.
If the bill passes, future rate increase requests would go through a “fast track” 45-day review process by the Illinois Commerce Commission as opposed to the current review process which allows for a more thorough investigation.