The state’s utility monitoring body says electricity rates for Illinois will be going up.
The Illinois Commerce Commission or says keeping rates at the current slashed prices will only create bigger increases down the road.
The five ICC commissioners railed against extending the 10 year rate freeze that expires this year.
In its place is a power auction that will raise rates UP to market prices.
Power giant ComEd says increases could be as high as 30% consumer activists say it will be a lot more.
Marty Cohen, now with the Governor’s office, a long time consumer-rights activist says, We’re concerned about Illinois consumers paying higher electricity prices when they don’t need to. We don’t want to see windfall profits for the energy companies. We don’t want to see consumers paying excessive rates.
Utility companies say a rate freeze is financially unfair and stifles the creation of new sources of energy.
Meanwhile, the power auction is planned for September with new rates taking effect in January.