The man charged with trying to get the “Chicago Clean Energy” facility built for Leucadia says the Illinois Commerce Commission simply made the wrong decision last week. The ICC said Leucadia’s plans for Nicor and Ameren to be guaranteed customers of the natural gas to be produced in Chicago were wrong. Chicago project manager Hoyt Hudson says Leucadia’s opponents are lying.
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Hudson says a two percent rate cap would be in place under legislation the governor is considering. Opponents say rates are so low now the cap is meaningless. Opponents also say recent shale discoveries in Canada help ensure a steady supply of cheap natural gas, but Hudson says you can’t count on that information. “Long term: there’s going to be a huge amount of pressure on the natural gas markets, and prices are guaranteed to return to their historic volatility and general higher prices,” says Hudson.
Gov. Pat Quinn’s office has said the bill remains under review.