I hate to say it but it couldn’t happen to a nicer company. For years they have been one of the least tolerant of companies. They resisted any thought of innovation. Stuck to burning coal and nuclear power plants long after it was fashionable. And snickered all the time like an evil teenager. They fought regulation until they were overwhelmed. Bad karma always comes to a bad end.
ComEd rate-hike issue delayed; customers keep switching
BY SANDRA GUY Business Reporter firstname.lastname@example.org September 19, 2012 6:06PM
The Illinois Commerce Commission on Wednesday delayed until Oct. 3 reconsidering a Commonwealth Edison rate-hike request centered on how ComEd accounts for its pension assets.
he ICC previously approved a rate that ComEd claimed was inadequate, ruling that ComEd can’t earn a rate of return on a pension asset that isn’t fully funded.
The commission took up other issues at its meeting Wednesday in Springfield, and didn’t give a reason for the delay.
ComEd had proposed a decrease in its electricity rates totaling $40 million to $50 million, but because of the pension issue, the ICC decided May 29 to cut customers’ rates by four times that for a total of $168.6 million.
Go there and read. More tomorrow.