ICC Ruling Puts ComEd's Smart Grid Plan On Hold
ComEd says it will delay elements of its grid modernization plan. That's after the Illinois Commerce Commission issued a ruling Wednesday that would prevent the utility from earning its desired profits, as it tries to cover the costs of infrastructure upgrades.
Still, the commission shrank a rate cut that was issued back in May. It means the average customer will see an increase of 57 cents on their monthly bill, starting at the end of October.
In the meantime, ComEd says it will appeal the I-C-C's ruling. While that plays out, the company says it will hold off on installing additional smart meters until 2015. Some basic infrastructure programs will also be delayed.
However, ComEd will reportedly continue work on a new employee training center in Rockford.