Statement From ComEd Regarding Veto of Senate Bill 1652

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^{Published in Business and Finance on Monday, September 12th 2011 at 18:41 GMT by Market Wire}  

Statement From ComEd Regarding Veto of Senate Bill 1652 -- CHICAGO, Sept. 12, 2011 /PRNewswire/ --

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CHICAGO, Sept. 12, 2011 /PRNewswire/ -- ComEd joins all the supporters of grid modernization, customer empowerment, job creation and economic development in expressing our disappointment in the Governor's veto.  

In the coming weeks, we will work to show how this legislation provides a diverse array of important benefits to Illinois. It is a jobs bill, an economic development bill, an environmental bill, a consumer benefits bill, a regulatory reform bill, and an infrastructure bill.  It is supported by an extraordinary cross-section of business groups, labor unions, environmental organizations, high-tech advocates and green tech entrepreneurs.

SB 1652 has undergone more than 40 major revisions based on input from legislators, consumer groups and other stakeholders.  This veto of SB 1652 puts at risk all the benefits and jobs that this consensus legislation offers.  

Without SB 1652 there is:

• No consumer opportunity for enhanced energy efficiency and rebate programs, as well as significant savings from operational efficiencies that are passed on to customers.
• No additional union job creation and no new business growth in Illinois to service smart grid and renewable projects.
• No major increase in grid reliability or established performance standards to hold utilities accountable.  
• No easy path to facilitate more renewable energy such as solar into the grid.  
• No opportunity for Illinois to realize a vision of an electric highway for future widespread electric vehicle use without smart meters.

Despite the rhetoric of the legislation opponents, SB1652 does not guarantee profits, will not result in automatic rates increases and does not strip the authority of the ICC.  

Illinois customers want more than the status quo. We look forward to working with members of the General Assembly to help make grid modernization and economic growth a reality in Illinois.

Commonwealth Edison Company (ComEd) is a unit of Chicago-based Exelon Corporation (NYSE: EXC), one of the nation's largest electric utilities with approximately 5.4 million customers. ComEd provides service to approximately 3.8 million customers across northern Illinois, or 70 percent of the state's population.

SOURCE ComEd

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