Record-setting rate hike sought by ComEd is more than $914M too high, utility watchdog says – Chicago Sun-Times
ComEd’s four-year proposal would increase the average Chicago-area residential electric bill by about $6.72 next year and raise it by a cumulative $17 by 2027. That’s about an 18% jump from today’s average $93 bill. The utility maintains that’s the price of beefing up the electric grid in a statewide effort to roll out a million electric vehicles by 2030 and phase out carbon emissions from power plants by 2050, as outlined in landmark state legislation signed by Gov. J.B. Pritzker in 2021.
House Bill 2878 and House Joint Resolution 23 both include provisions that would expand the scope of public-private infrastructure partnerships, in effect ceding a portion of control over planning and development to private entities, opponents said. The infrastructure most immediately in question is I-55, specifically a plan to expand the highway by adding express toll lanes that would be managed by a private party.
The potential of Chicago entering a “doom loop” is finally getting the attention it deserves, but one part deserves special notice: the coming massive shift in property tax burdens from commercial to residential owners in Chicago.