Illinois utility companies have long held corporate conflicts of interest — with potentially costly consequences for consumers.
One example: Commonwealth Edison’s (ComEd) relationship to its parent company, Exelon, may help explain why ComEd has failed to deliver on promises made in a 2011 law that resulted in record profits for ComEd and higher costs for ratepayers.
Exelon’s plans to separate its regulated utility business from its generation and customer-facing power supply business will help curb these types of conflicts. But the Illinois General Assembly must do more to fully address the problem, including by reforming utility political influence to no longer allow utilities to charge their customers for charitable contributions.
“Exelon’s ownership of ComEd has created longstanding conflicts of interests and Illinois consumers have suffered as a result. Separating Exelon’s generation assets from its regulated utilities is good news for ComEd’s customers and the public,” said Illinois PIRG State Director Abe Scarr.
“Still, addressing the conflicts of interest that persist beyond an Exelon breakup should remain on the General Assembly’s agenda.”
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Content Creator, Editorial & Creative Team, The Public Interest Network
Aaron writes and designs materials with the Creative Team for The Public Interest Network for U.S. PIRG. Aaron lives in Arlington, Massachusetts, and spends his spare time playing drums and going for long walks.