Skeptics worry it would tie Chicagoans to the embattled electricity company for much too long and much too fast.
Chicago Mayor Lori Lightfoot has reached a 15-year-old deal with Commonwealth Edison that the city bills as the “strongest municipal utility franchise deal in the country,” but some aldermen are worried it would bind Chicagoans with the embattled electricity company for much too long and much too fast.
A city spokesman did not immediately respond to requests for comment. A presentation by Lightfoot officials billed the pair of agreements as the “strongest municipal utility franchise deal in the country” for its use of shareholder funds from ComEd regarding promoting clean energy and jobs training. “Why would we want to lock ourselves into 20 years when there’s something critical that is going to happen next year?” Martin asked.
The second proposed agreement outlines that the ComEd cash going toward a “climate action plan” would be controlled by a “third-party nonprofit board” consisting of five people appointed by the mayor and confirmed by City Council and two selected from ComEd. Current city employees would not be eligible.“If we’re talking about money that the city needs to execute the city’s Climate Action Plan, those are funds that the city should have control over,” Martin said.
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