A measure that will allow Ameren and Com Ed to ask for higher electricity prices is on its way to the governor. The bill doesn’t raise rates by itself, but it will allow Ameren and Com Ed to petition the Illinois Commerce Commission for rate increases anticipated when the Electric Infrastructure Modernization Act passed in 2011.
Since then, the Illinois Commerce Commission has actually lowered rates, forcing the electric companies to slow down the installation of smart meters, for example. Ameren projects that the rate increases it will be granted will be $3.40 per year for each of the next 10 years for the average residential account for expenses associated with the Infrastructure Modernization Act, an Ameren spokesman said. There may be other increases or decreases during that time depending on the other costs of running the company.
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The governor is not a fan of the bill that passed the House Thursday – S.B. 9. – just as he objected to the original so-called Smart Grid Bill, which he vetoed. It became law when the General Assembly overrode the veto. There appear to be enough votes on this bill to override a veto if it comes to that.