ComEd settles for $46 million with state of Illinois

The Illinois Commerce Commission on Thursday approved a $46.2 million Commonwealth Edison settlement over lawsuits with the state that could mean refunds of about $8 for customers on their November electric bills, the Illinois attorney general's office said.

The settlement resolves two lawsuits that Illinois Attorney General Lisa Madigan brought in 2008 and 2010 challenging the utility's rates. Madigan's office said the settlement will result in credits to ComEd customer accounts in November based on electricity usage in October 2014 and on an individual account basis.

Former ComEd customers from October 2010 to December 2012 also are eligible for refunds if they show they were customers.