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IL Grid Modernization Bill Moves to House Floor
SPRINGFIELD, Ill. (AP) -- A measure that would increase Illinois electric rates to pay for modernizing the power grid was approved overwhelmingly by a House committee.

The bill requires utilities to invest up to $3 billion in ``Smart Grid'' technology and other improvement.

Residential electric rate could climb by no more than 2.5 percent a year for three years to pay for the upgrades.

Rep. Kevin McCarthy said the bill's 21-0 approval makes him more confident about its prospects in the full House.

Opponents include Attorney General Lisa Madigan, who says ratepayers shouldn't bankroll the project.

(Copyright 2011 by The Associated Press. All Rights Reserved.)
05 27 11 by Newsroom
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