ComEd requested permission for a record-high $1.5 billion rate hike over the next three years, followed by a slight reduction in 2027.
The utility's four-year, phased-in rate hike would include similar increases in power delivery rates in 2025 and 2026, followed by a slight reduction in 2027, according to ComEd's filing with the Illinois Commerce Commission.
"ComEd has a critical role in ensuring the transition to cleaner energy is reliable and equitable for all," ComEd CEO Gil Quiniones said in a statement. "These proposed investments are necessary to deliver the resilient 24/7 power our customers depend on, prepare the grid for fleets of electric vehicles and electrification, integrate more clean energy and battery storage, and equitably advance a decarbonized energy future.
Next year's proposed rate hike of roughly $847 million on its own is more than the $827 million that rates climbed over the previous 11 years combined. Scarr quipped that the utility could "make out like bandits," referring to a comment from former Illinois House Speaker Mike Madigan that was captured on a federal wiretap and as part of the racketeering and bribery case against him.
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