* I had a piece on this in today’s Capitol Fax, but it turns out Crain’s is also on the story…
Exelon Corp., Ameren Corp. and other power plant owners in Illinois are negotiating with key state senators on a package of up to $150 million to help low-income consumers and others hardest hit by recent electric rate hikes.
Both sides hoped to wrap up talks by late Tuesday or early Wednesday, people familiar with the discussions say. If an agreement is reached, Senate President Emil Jones would not call for a floor vote later this week on legislation that would return Ameren and Commonwealth Edison Co.’s rates to last year’s levels and freeze them there for at least a year, these people say.
But they caution that the discussions may not ultimately lead to a compromise as companies haggle over how much each should give to the effort — or whether to contribute anything at all.
If the package of concessions is finalized, the money would go for rebates to Downstate customers hit with increases of as much as 200% because they use electric heat. Utilities gave those who heat their homes with electricity heavy rebates that expired this year. Others targeted for assistance include low-income users and seniors on fixed incomes.
* The Citizens Utility Board’s blog responds to the story…
But if rate relief is appropriate for a group of customers, why isn’t it appropriate for ALL customers. This proposal kind of reminds me of a bank robber who admits he took the money, but doesn’t give it all back.
* Meanwhile, Speaker Madigan has a new plan…
House Speaker Michael Madigan offered a new twist in the electric rate debate Tuesday, proposing that Illinois get into the electricity business to help cash-strapped consumers.
Madigan, D-Chicago, introduced a measure to create a not-for-profit Illinois Power Authority that could buy, generate or sell electricity. Madigan spokesman Steve Brown says that setup could spur competition to drive down electric rates.
The measure could ratchet up pressure on utilities Ameren and ComEd as they negotiate with state lawmakers on relief for consumers. Brown said it might “change their perspective.”
The full legislation can be found here.
* And rate shock hits the Beverly Arts Center…
Higher electricity costs could bankrupt the Beverly Arts Center, the executive director of the South Side nonprofit told the City Council’s energy committee Tuesday.
Michael Nix said ComEd’s higher rates could more than double the center’s electric bill this year.
“Like everyone else, we anticipated a 24 percent increase, which is what I read about,” Michael Nix said after testifying before the committee.