SPRINGFIELD, Ill. (AP) — The Illinois Commerce Commission has approved rate increases for the state’s two main electric utilities.
The commission this week authorized an 11 percent overall raise for ComEd and 17.4 percent overall raise for Ameren Illinois. Commission officials say the amount customers will pay depends on different factors, including their location and how much electricity they use.
Commission officials say they approved the increases after reviewing the utilities’ expenditures over the last year. The new rates were set using a formula created by a state law that allows utilities to recover costs for specific investments in infrastructure, such as smart meter and smart grid technology.
The Citizens Utility Board says it’s disappointed in the increases. The board says the hikes will hit consumers hard this winter.