All articles tagged with #comed
Severe thunderstorms caused widespread power outages and damage across the Chicago area, with over 68,000 ComEd customers affected, downed trees, and infrastructure damage, prompting emergency responses and evacuations.
Former ComEd CEO Anne Pramaggiore was sentenced to 2 years in prison for her role in a scheme to bribe Illinois House Speaker Madigan's associates to influence legislation, with the judge emphasizing her ability to stop the corruption but her participation in it. The case is part of a major political scandal involving millions of dollars and the manipulation of energy legislation in Illinois.
The Illinois Commerce Commission has rejected ComEd's four-year grid improvement plan and slashed its proposed $1.47 billion rate increase, while also turning down an emergency motion by Peoples Gas to restore $134 million of disallowed pipeline infrastructure funding for 2024. The decisions will hold down rate increases for Chicago-area gas and electric customers entering 2024, while putting more pressure on the utilities to justify infrastructure improvements going forward. The rulings reflect a shift towards a more consumer-friendly approach and a focus on accountability, as the state aims to accelerate its transition to clean energy.
Exelon Corp., the parent company of Commonwealth Edison (ComEd), has agreed to pay $46.2 million in penalties as part of a settlement with the Securities and Exchange Commission (SEC) over a fraud scheme to influence and reward former Illinois House Speaker Michael Madigan. The SEC also charged former ComEd CEO Anne Pramaggiore with bribery-related charges. Pramaggiore, who was already convicted in the "ComEd Four" corruption case, will face litigation for the new charges. The penalties come after ComEd's deferred prosecution agreement in July 2020, which included a $200 million fine. The SEC complaint alleges that Pramaggiore participated in the bribery scheme and misled investors about ComEd's lobbying activities.
Severe thunderstorms in the Chicago area caused power outages for about 125,000 customers overnight, with 14,000 homes still without power on Saturday afternoon. Wind speeds reached up to 81 miles per hour, causing damage to power lines in the southern and western areas. ComEd has restored power in 90% of affected homes and expects most remaining outages to be resolved by Sunday afternoon. Emergency facilities are being prioritized for repairs, and residents in life-threatening situations can contact ComEd for priority repairs. The National Weather Service is investigating for possible tornado activity, and a beach hazard warning is in effect due to rip currents along Lake Michigan beaches.
Jurors in the ComEd bribery trial did not believe the defense's argument that the jobs and money that went to allies of Michael Madigan were just legal lobbying. The jury foreperson said they felt the allegations went beyond goodwill to "intent to influence." While jurors agreed that lobbying is necessary for legislators to be educated, they did not believe this was lobbying. The guilty verdict was delivered for four former political power players for arranging jobs, contracts, and money for Madigan's allies to influence him as crucial legislation moved through Springfield.
Four defendants, including two former ComEd executives, were convicted of bribery conspiracy in a Chicago trial that exposed pay-to-play politics in Illinois involving the state's largest electric utility and former Illinois House Speaker Michael Madigan. Madigan, who has been indicted in the case, was not in court during the trial but featured in much of the key evidence. The convictions may not bode well for his prospects when he goes to trial next year. The defendants face a maximum five-year prison sentence for bribery conspiracy.
Four former political insiders, including a longtime friend and confidant of former Illinois House Speaker Michael J. Madigan, have been found guilty of a nearly decade-long conspiracy to bribe the once-powerful Southwest Side Democrat. The indictment was the result of an aggressive federal investigation into Chicago-style politics that has had Madigan at its center since 2014. Madigan is set to face his own trial in April 2024 on a separate indictment that alleges the same scheme, in addition to others, for which federal prosecutors just secured a resounding victory.
Four defendants, including two former ComEd executives, were found guilty of bribery conspiracy in a trial that exposed pay-to-play politics in Illinois involving the state's largest electric utility and former Illinois House Speaker Michael Madigan. The defendants arranged contracts, jobs, and money for Madigan's associates to ensure proposed bills boosting ComEd profits became law. Madigan, who has been indicted in the case, was featured in much of the key evidence. The convictions may not bode well for his prospects when he gets to trial. Bribery conspiracy carries a maximum five-year prison sentence.
In the trial of four former political power players accused of arranging for jobs, contracts, and money for Michael Madigan allies in an illegal bid to sway Madigan as legislation crucial to ComEd moved through Springfield, federal prosecutors asked the jury to reject the idea that a "stunning" stream of benefits allegedly delivered to Madigan by that friend and three others amounted to anything other than bribery. The defense called the bribery charges "collateral damage" and asked the jury to "be the shield" between a private citizen and a "very powerful government committed, dedicated and on a mission to get Mike Madigan."
A storm with winds exceeding 75 mph caused widespread damage in the Rockford area, leaving nearly 6,500 households without power. The roof of the Apollo Theater in Belvidere collapsed during a concert, killing one and injuring 28. A tornado touched down in Ogle County, destroying several farm buildings, and wind damage was reported in Lee County. ComEd crews are working to restore power, with 80% expected to be repaired by 3 p.m. Saturday and the remainder by Sunday morning. Many roadways are blocked by fallen trees and powerlines, and motorists are asked to avoid certain areas.
Severe thunderstorms with wind gusts possibly exceeding 75 miles per hour left more than 48,000 ComEd customers without power across northern Illinois, with more than 14,000 of those affected in the Rockford area and over 3,400 in Chicago's western suburbs. ComEd urges customers to report outages and provides information about existing outages and restoration times on their website.
Former ComEd Vice President Fidel Marquez testified in the trial of Michael McClain and three other former political power players about how he and other ComEd executives fielded constant requests to find jobs for people pushed for employment by Michael Madigan, even when evaluations found their qualifications lacking. The trial accuses the four of arranging for Madigan’s associates to get jobs, contracts, and money in an illegal bid to sway Madigan while legislation crucial to ComEd moved through Springfield. Prosecutors moved into the heart of their case with the testimony from Marquez, who was approached by the FBI in January 2019 and agreed to cooperate in its intense investigation of Madigan and others.