Illinois energy bill may cost consumers an additional 24 billion, opponents say
Exelon is back at the Capitol trying to win financial help for two struggling nuclear power plants, pushing what opponents have called a "Christmas tree" of giveaways that they estimate could cost consumers as much as $24 billion over 23 years.
Like the energy giant's past attempts, the latest effort is propelled by a threat that the company will close its nuclear power plants in downstate Clinton and the Quad Cities if lawmakers don't act. Unlike the failed efforts of the past, the new bill includes a subsidy for downstate plants that burn coal from Wyoming.
The massive legislation touches almost every realm of energy policy in Illinois. It would allow utility companies ComEd — an Exelon subsidiary — and Ameren to use a new system for charging customers that would be based on an average of peak usage instead of overall electricity use. It would give a customer-funded boost to energy efficiency efforts while allowing utility companies to reap management fees and interest payments on those programs. It would adjust standards for the state's renewable energy goals, but some solar companies say it would give the advantage in that arena to the utility companies.
The bill is so complicated that it sets aside $21 million for education programs to help ratepayers navigate the new systems — paid for, again, by consumers.
Read more: http://www.chicagotribune.com/news/local/politics/ct-exelon-rate-hike-met-20161121-story.html
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