CUB not pleased with ComEd's rate-hike plans

The Citizens Utility Board is disturbed with news released Thursday that ComEd customers may see higher electrical bills by next year.

"This is not surprising, but it certainly is disturbing given the economy and how consumers are trying to make ends meet," said CUB spokesman Jim Chilsen.

CUB, a consumer advocacy group founded by the Illinois General Assembly in 1983, said it has heard that ComEd, a unit of Exelon Corp., plans to file with the Illinois Commerce Commission for a rate hike in the second or third quarter.

It has been reported that Exelon executives spoke of the rate hike at an investor presentation earlier this month, Chilsen said.

ComEd would not comment on how much the rate increase may be or when it would take place. The company did say that it "still needs to recoup its investments it made to improve and maintain its system."

CUB is angered that they are still in the appeal process of the last ComEd rate hike implemented in the fall of 2008. At that time, ComEd gained approval for a $270-million increase, which cost the average homeowner an additional $4.50 a month.

"The ink on the last rate hike isn't even dry," Chilsen said, adding, "and now we get disturbing news that ComEd's filing with the Illinois Commerce Commission to ask for more." ComEd said it understands the impact a potential rate increase may have on customers. "That's why last year, instead of filing for a rate increase, we tightened our belts and reduced our budgets by approximately $200 million," ComEd said in a prepared statement.