Macomb, IL – Illinois State Representative Rich Myers is questioning efforts in the legislature to extend a rate freeze on electric power. The Colchester Republican says rates have been frozen at pre-1992 levels. He fears that if utilities cannot afford to purchase power on the open market, the state might have to step in to guarantee continued electricity. He says when California had to buy power to augment supplies, it cost that state millions of dollars. Myers also says the threat of the extension has lowered the bond ratings for Ameren and Commonwealth Edison. He says this could impair their ability to maintain dependable service. Myers says there should be a way the state can work with utilities to soften the expected 20% to 55% rate hikes expected in January.
Rate Freeze Extension Questioned
