ComEd Bailout Bill Approved, Get Ready to Pay More For Electricity in the Stateline

Thanks to some of your local Illinois legislators, you will soon be paying a lot more for your electricity in Illinois.

The Chicago Tribune is reporting that the bailout package was approved by Illinois House on a 63-38 vote, in the Illinois Senate, it passed 32-18. Governor Rauner says he plans to sign the bill.

It's estimated that ComEd residential customers will pay as much as $4.54 a month. This will cost the average electric customer an additional $544.80 over ten years.

Crain's Chicago Business reports that the bill the Legislature passed without lawmakers even seeing its final form. I guess this is the way Springfield operates, pass something without reading it.

So what's in the bill? A bailout that provides $2.35 billion to Exelon to keep two nuclear power plants open that can no longer compete in the marketplace. Illinois generates 41 percent more power than we use and as we become more efficient—demand is declining at about 1 percent a year—that excess supply is growing. With so much supply and electricity prices falling, ratepayers have been the big winners.

Basically, because households are trying to save money and are using less energy, the Exelon and ComEd are not happy and want more of your money.

Business owners will pay even more, expect those costs to be passed on to the consumer.

So how did our local representatives we send to Springfield vote on the ComEd bailout bill:

In the Illinois Senate:

Dave Syverson (R) - Did not vote

Steve Stadelman (D) - Voted YES

Tim Bivens (R) Voted NO

In the Illinois House:

Joe Sosnowski (R) voted NO

Bob Pritchard (R) Voted NO

John Cabello (R) ABSENT

Tom Demmer (R) Voted YES

Brian Stewart (R) Voted YES

*A YES vote represents a vote to bailout ComEd and to raise your rates.

Don't you find it odd that many of these legislators waited until after the election to find a way to take more money from your pocketbook? Merry Christmas from Springfield!