Chicago Utilities News

Peoples Gas formula rate bill dead

Peoples Gas has come up short in its bid to win legislative approval for the same kind of automatic rate hikes that Commonwealth Edison Co. won in its 2011 “smart grid” law.

Quinn vetoes ComEd rate hike bill

Gov. Pat Quinn yesterday nixed legislation to provide the electric utility about $70 million in additional yearly rate hikes over the next several years.

ComEd wants $311 million rate hike in 2014

Commonwealth Edison moves to raise the cost of delivering electricity to the average household by $5 a month next year, part of the utility's plan to modernize its grid.

Exelon unit loses Evanston power supply contract

The north suburb has chosen low bidder Verde Energy USA to provide power to most of its nearly 30,000 households, beginning in August.

Some suburban electricity deals to be costlier than ComEd

Starting in June, contracts that 15 towns negotiated with power suppliers more than a year ago to lower residents' bills will exceed the costs ComEd customers pay.

ComEd rate hike gets state House approval; moves to Gov. Quinn

The Illinois House today overwhelmingly approved a Senate-passed bill to increase Commonwealth Edison Co.'s rates, sending the measure to Gov. Pat Quinn, who opposes it.

Updated

Exelon makes big exec payouts as stock price drops

Exelon Corp. paid its top two executives a combined $18 million in 2012, a year when its stock price plummeted on expectations the company would cut its dividend.

Illinois Senate passes bill to raise ComEd rates

The Illinois Senate on Thursday overwhelmingly passed legislation to raise electricity rates and give Commonwealth Edison Co. up to $70 million in additional annual revenue beginning next year.

Exelon's not alone: Caterpillar ditched FutureGen, too

Exelon Corp. isn't the only major Illinois corporation to pull out of the alliance developing the federally subsidized FutureGen “clean coal” power plant downstate. Add Caterpillar Inc. to the list.

Downtown office landlords launching own smart meter program

The association representing downtown Chicago's office landlords is getting set to launch a first-of-its-kind “smart-meter” program with large office buildings that, if successful, could dramatically cut energy consumption by the likes of the Willis Tower and the John Hancock

ComEd, power suppliers vying to halt FutureGen financing plan

Commonwealth Edison Co. and a group of competitive power suppliers are mounting a court challenge to the state's recent approval of a plan to charge all electricity users in Illinois extra on their utility bills to cover the costs of the federally subsidized FutureGen 2.0 “clean

Durbin blasts Exelon for FutureGen 'betrayal'

U.S. Sen. Dick Durbin blasted ComEd and its parent Exelon Corp. for dropping out of the FutureGen 2.0 "clean coal" development downstate.

Quinn cements influence over Illinois Commerce Commission

Gov. Pat Quinn named a new member of the Illinois Commerce Commission, completing his overhaul of the state agency that regulates utilities.

New Nicor parent cuts jobs, freezes salaries

The Atlanta-based owner of Nicor Gas last week laid off about 25 mid- and senior-level employees and for now has halted merit raises for many workers.

New chief tapped for Illinois Power Agency

A policy adviser to ICC Chairman Doug Scott will become the next director of the state office that buys electricity on behalf of utility customers.

Peoples Gas asks for automatic rate hikes

Legislation introduced in the state Senate would permit the utility to boost delivery rates up to 5 percent annually over the next decade.

Cullerton pushes bill to boost ComEd rates

Illinois Senate President John Cullerton today introduced legislation that would give ComEd the favorable rate treatment it didn't get last year from state utility regulators.

Nicor parent talks rate changes despite earlier agreement

When is a ban on utility rate increases not one? AGL Resources Inc., owner of suburban utility Nicor Gas, appears to be getting ready to answer that question.

Exelon CEO Crane swallows hard on dividend cut, looks forward

The 41 percent cut caps the annus horribilis of Chris Crane, who took over for predecessor John Rowe as CEO nearly a year ago and has presided over a series of woes and setbacks.

NRC accuses Exelon of 'deliberate' deception

The Nuclear Regulatory Commission is accusing Exelon of misleading the agency over several years on the health of its funds to clean up many of its nuclear power plants.

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