By Associated Press
Springfield, IL – Illinois officials today approved plans by Ameren to allow customers to pay whopping electric rate hikes over three years starting January First. Deregulation of electric rates means the end of a ten-year freeze on customers' bills.
Ameren Corporation and Com-Ed have predicted rates will increase 22 percent to 55 percent. The Illinois Commerce Commission approved phase-in rate plans for both utilities. They allow customers to choose to pay a portion of the increases each of the next three years. But the utilities may charge interest -- three-point-two-five percent.
The commission also urged Com-Ed to pay 30 (m) million dollars to help low-income customers. Ameren has pledged 15 (m) million dollars for that purpose.