Friday, September 15, 2006

Illinois Electric Rates

St. Louis Dispatch:
Illinois electric customers got the low-down Friday on what they'll pay for electric service starting in January, and it isn't pretty.

Ameren Corp. said it expects customers to pay 40 percent to 55 percent more for power as a result of an auction of wholesale power that was ordered by the state. Auction results were released late Friday.

Chicago Tribune:
After enjoying a decade-long electricity rate freeze, residential customers of Commonwealth Edison should brace for a significant increase, an estimated 25 percent, in their monthly bills, according to the results of an energy auction to be disclosed on Friday.

The winning bid to supply power to Illinois is in line with current wholesale prices, according to a source with knowledge of the auction, and that will translate into substantially higher bills.