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ComEd Says It Needs Another Rate Hike

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ComEd officials say the company will file for another rate hike starting in 2008.

The move comes as electricity bills are set to go up by 22 percent next year.

Earlier this year, state regulators allowed ComEd to raise its electricity rates through a complicated auction process.

A move Illinois legislators have pondered reversing.

Now on top of those controversial 2007 increases, ComEd wants a hike on what it charges customers for delivering electricity to their homes.

“We don’t like (raising rates),” says Barry Mitchell, president of ComEd. “It would make our life a lot easier if costs didn’t go up, but in fact they have and they are going up.”

ComEd wanted a similar delivery hike earlier this year but state regulators shot them down.

The Citizen Utility Board, a utility watchdog, says this rate increase would be a slap in the face to customers who are already facing increases.

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