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ComED Rate Hike Vetoed

Smart Meter From Crain’s Chicago Business: Gov. Pat Quinn yesterday vetoed legislation to provide Commonwealth Edison Co. with about $70 million in additional yearly rate hikes over the next several years.

The bill, which passed both chambers of the General Assembly by veto-proof margins, is expected to become law anyway. Both the House and Senate are expected to vote to override the veto before their scheduled adjournment at the end of the month.

ComED has stated that the rate hikes were necessary to implement the Smart Grid and create new jobs. The Smart Grid meters would be installed later this year if the rate hike has passed. Smart meters allow for two way communication and to monitor site specific information such as time of use, power consumption and potential for power quality problems. The Smart Grid would have helped address potential power outages and the potential for price competitiveness by adjusting by time and amount of power used.

Traditional meters only measure total power consumption used and gives no additional information as their smart meter counterparts.

Although the rate hike was vetoed, it will still go through as the Illinois Senate passed back in May by a vote of 44-9, a “veto proof” majority. The rate hike would create an additional $70 million in additional revenue per year.

ComED has stated that the modernization program would cost $2.6 billion and the rate hikes were needed to start implementation.


Sherwin L. Sucaldito, REALTOR®, GREEN, ABR, CRPM
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