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Even as Commonwealth Edison fights in Springfield for legislation that would set utility rates by formula and sharply undercut the authority of the Illinois Commerce Commission, at home, that same regulatory body is undercutting ComEd in its battles for rate increases.
Administrative law judges recommended that Commonwealth Edison Co. be allowed a rate increase of about 3 percent, or $166 million, less than half what the Chicago-based utility requested last June. Get the full story »
From the Times of Northwest Indiana | NIPSCO’s chief executive Jimmy Staton received a 31 percent pay raise to $1.9 million last year while telling state regulators the utility needs more money from customers to cover increased costs.Get the full story>>
A nonprofit watchdog group is planning a series of clinics next week in the Chicago area to help consumers save money on their phone bills. The Citizens Utility Board is holding the clinics at libraries in Glenview, Morton Grove, Frankfort and Cary. Consumers can bring along their phone bills for a free analysis. Get the full story »
American Transmission Co. wants to build a $20 million power line from Pleasant Prairie and Zion, Ill. Get the full story »
The number of broadband Internet connections in Illinois has exceeded the number of phone landlines for the first time, a sign that the use of traditional phone service continues to decline. Get the full story »
NiSource Inc.’s fourth-quarter earnings fell 63 percent amid early debt-extinguishment losses as the regional utility reported higher-than-expected revenue.
The Midwest and Northeast electricity and natural gas utility has benefitted from cost cutting and improving demand in some of its markets last year. Its industrial volume received a boost as the manufacturing sector rebounded last year. Get the full story »
Exelon Corp.’s fourth-quarter profitability beat Wall Street estimates, as the Chicago-based utility company reported Wednesday that it earned $631 million, or 96 cents a share during the quarter, compared with $610 million, or 92 cents in the year-ago period. Get the full story »
Duke Energy said Monday it agreed to buy Progress Energy Inc for $13.7 billion in stock, creating the largest U.S. power company.
The transaction would create an industry giant with approximately 7.1 million electricity customers in North Carolina, South Carolina, Florida, Indiana, Kentucky and Ohio, and 57,000 megawatts of generating capacity. Get the full story »
From Crain’s Chicago Business | Peoples Gas parent Integrys Energy Group Inc., which owns utilities in Wisconsin, Minnesota and Michigan,parent of Peoples Gas, is considering a bid for Naperville natural-gas utility Nicor Inc. At least one out-of-state utility and possibly a private-equity firm are also kicking Nicor’s tires. Get the full story>>
Nicor Inc. is seeking a buyer and has hired JPMorgan Chase & Co. to run the auction, Bloomberg News reported Thursday, citing people with knowledge of the matter. Get the full story »
From Crain’s Chicago Business | Illinois’ utility regulator has recommend that Commonwealth Edison Co. get a small fraction of the $400 million rate hike it requested. The Illinois Commerce Commission staff recommended a rate increase of $78 million, or roughly 7 percent on the average month residential electric bill. Get the full story>>
Commonwealth Edison is asking the Second Appellate Court to rehear its case following a decision earlier this month that removed the funding mechanism ComEd was using to pay for a smart grid pilot program in the Chicago area.
The decision also overturned a precedent the Illinois Commerce Commission has used for years to determine how much consumers pay on utility bills, a change that would mean an annual revenue loss of tens of millions of dollars for ComEd’s parent, Exelon Corp. and possible rebates for consumers.
The court has not decided if or when it will rehear the case. Get the full story »
In light of a court ruling this month that placed funding for Commonwealth Edison’s smart grid pilot project in jeopardy, the utility is petitioning the Illinois Commerce Commission to wrap an additional $11 million into its $396 million rate-increase case.
The utility asked the commission to decide by the end of the month whether it will hear that request as part of a proposed 7 percent rate hike — a sign of good faith that would allow the utility to finish the project with the expectation that there would be some way for them to recoup the costs at a later day.
Get the full story »
On the heels of a request for a 7 percent rate hike, Commonwealth Edison is asking the Illinois Commerce Commission to add $60 million to fund additional improvements. Get the full story »
Only 14,000 Commonwealth Edison customers are still without power this morning, and the utility said it expects electricity will have been restored by the end of today to 99 percent of the estimated 595,000 customers who lost it in Friday’s wind and thunderstorms. Only a few isolated customers will have to wait until Tuesday, the utility said.
