Bills expected to leap when regulation ends
ILLINOIS - When Illinois began the process of deregulating electricity 10 years ago, ComEd prices were rolled back 20 percent and frozen through 2006.
In the meantime, energy prices have gone up. It's expected that Illinois electric bills will increase when the rate freeze ends in 2007, but it's not clear how much.
The Citizens Utility Board suggests that residential electric bills, including the cost of power and distribution, could rise next year by 20 percent to 40 percent.
George Gross, a University of Illinois electrical and computer engineering professor, said a 20 percent to 60 percent increase in the bills is possible over the next two years. For a $60 bill, a 20 percent increase would mean a new total of $72.
The utilities themselves would not speculate. ComEd has proposed capping rates at 10 percent a year for the first three years, with any additional increases deferred until the following three years.
A power auction that started recently set wholesale electricity prices, which utilities will pass to consumers.
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