Blagojevich signs electric rate relief but says it's not enough
DuQuoin, Ill. – Governor Rod Blagojevich says the $1 billion relief package he signed
into law Tuesday doesn't go far enough but it's better than nothing.
The measure is aimed at soaring electric rates, and it ends a yearlong tug of war between the needs of consumers and power companies.
The package softens the blow consumers felt from rates that spiked at the beginning of the year, following a 10-year rate freeze. It rolls back about half of those increases through rebate checks to Ameren customers, ensuring all of them at least $100.
And ComEd customers will get bill credits.
The governor calls it a "good step forward" but says it isn't a perfect solution.
The plan doesn't block rates from rising again over the next several years.