SPRINGFIELD, Ill. (AP) -- The Illinois Attorney General says a major utility company behind legislation increasing electricity rates "can't help itself."
Attorney General Lisa Madigan commented Wednesday that Commonwealth Edison Co. is overburdening ratepayers by asking them to help finance a $3 billion grid modernization project. She says it is particularly insensitive considering the company received a $156 million rate increase on Tuesday.
The bill would cap electricity rate increases at 2.5 percent annually for three years. ComEd says it needs that revenue source to support a statewide electricity grid update. The company says the improvement will reduce consumer energy costs by tying energy output to demand.
Rep. Kevin McCarthy is the bill's chief sponsor. The Orland Park Democrat says it could be called for a House vote Friday.
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