Illinois Regulators Deny Rate Hike Requests from Utility Companies
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.
