ComEd Ordered To Refund $36.7 Million To Customers
CHICAGO (CBS) -- The Illinois Commerce Commission has ordered ComEd to refund $36.7 million to its customers.
As WBBM Newsradio's Steve Grzanich reports, the ICC says ComEd wrongly inflated consumer electricity rates in its decision, which follows the agency's appeal of a 2007 rate case.
In 2010, the Illinois Appellate Court ruled in favor of consumer advocates, who argued the ICC made a mistake in allowing ComEd to account improperly for depreciation of assets such as trucks and poles.
After losing the appeal, Commonwealth Edison contended the Appellate Court had not directly ordered a refund for consumers. But the ICC disagreed, going against a proposed order from an administrative law judge who contended a refund was not necessary.
Consumer advocates say the decision sets a new precedent going forward in Illinois. For example, ComEd's request in its most recent rate case was reduced at the ICC by more than half.
LISTEN: WBBM Newsradio's Steve Grzanich reports
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