Lawmakers receive $500 million electric rate proposal

Lawmakers receive $500 million electric rate proposal
By: Associated Press

SPRINGFIELD, Ill. -- The state's two utilities have significantly increased their offer to help consumers hit by soaring electric rates without another rate freeze.
State senators today received a proposal from Ameren and Com-Ed that would offer customers $500-million in relief over the next three years.
That's much higher than the $150-million the companies had offered a few weeks ago.
The proposal would provide $300-million to Com-Ed customers and $200-million to Ameren customers.
It would target much of the relief at people hit hard by large winter bill increases and at easing spikes this summer as the heat drives up electric costs.
Senator James Clayborne says the proposal has not been shared yet with the House and could be tweaked further.
But he says it does provide rate relief that he and other lawmakers have been pushing for.
(Copyright 2007 by The Associated Press. All Rights Reserved.)