Bill could lock in 10 percent profit margins for utilities

February 8, 2011 7:42:42 AM PST
ComEd and other state utilities would be able to lock in profit margins above 10 percent if a new bill passes.

The Illinois General Assembly is now considering the proposal, which would also mean rate increases.

The Citizens Utility Board advocacy group says the legislation does not provide strong enough protections for consumers and is a "recipe for automatic rate hikes."

ComEd says price increases would actually be less with the bill than the utility is now requesting - a hike of about $7 a month for most customers.

Part of the legislation would involve investment in a new grid to modernize the utility's technology and more jobs.