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Mon May 6, 2013
Quinn Rejects Bill Raising ILL Electric Rates
Illinois Governor Pat Quinn has rejected a plan to increase electric rates by roughly $70 million, a proposal ComEd says would have helped get so-called Smart Grid technology back on track. Quinn vetoed the plan yesterday saying the bill would undermine oversight and force automatic rate hikes. ComEd touted the bill as a way to clarify 2011 legislation allowing utilities to raise rates to fund a high-tech system. But executing it has been tricky.
The bill was meant to clear up some of those issues and speed up installation. ComEd officials say they're disappointed and the veto threatens jobs.