While Illinois Gov. Rauner and state legislators couldn’t come to an agreement on a new state budget, they did manage to agree on an energy bill that will raise our monthly electricity rates. (Insert *sarcastic “YAY!” here.)
The energy bill, which the governor plans to sign, will raise electricity rates for Illinois residents and businesses to bail out two of Exelon’s nuclear power plants. The legislation will cost ComEd customers an extra 25 cents a month, according to Exelon. But opponents say the rate hike could cost them more than $4 a month.
Overall, the rate increase would collect about $235 million a year and be used to keep open nuclear plants in downstate Clinton and the Quad Cities. The bill will go into effect next summer.
As for the state budget, there is a temporary spending plan in place right now that is set to expire Jan. 1. After that date, the state won’t be able to cut checks for universities and social service providers.
For more, check out the Tribune’s report.
@RianneCoale | rcoale@redeyechicago.com
