By Nick Gale, WLS-Am 890 News
(CHICAGO) — The Illinois Commerce Commission has announced the Federal Energy Regulatory Commission has approved a settlement agreement that will bring over $318 million back to ratepayers in the ComEd territory. Credits should start to appear on ComEd customer’s bills beginning this October.
“The settlement is a major victory for Illinois ratepayers,” said ICC Chairman Brien Sheahan.” The ICC has fought long and hard against an order by the FERC that unfairly shifted costs onto Illinois ratepayers for the construction of transmission projects on the east coast. The FERC’s approval of the settlement ensures that Illinois customers will finally receive the rate relief they deserve.”
Since 2005, the ICC has fought to stop PJM, a regional power transmission organization, and the FERC from passing the cost of certain large transmission projects on the east coast through to Illinois ratepayers without any showing of commensurate benefits.
After two victories at the United States Court of Appeals for the Seventh Circuit and two remand proceedings before the FERC, the ICC negotiated this settlement to provide rate relief to Illinois consumers.
@ 2018 WLS-AM News
