House committee approves $1 billion electric rate deal
July 26, 2007
SPRINGFIELD, Ill. – A $1 billion agreement on relief from electric rates has cleared its first hurdle on what could be a lightning-fast trip through the Illinois Legislature.
A House committee voted 5-3 Wednesday night for the plan negotiated by top Democrats and the utility companies. It is meant to soften the impact of electric rates that rose sharply earlier this year.
Republican critics contend consumers wouldn’t get enough back from the utilities and that the plan is being rushed through the Legislature.
Supporters argue it offers substantial discounts for customers and shields them from future sudden increases.
The plan now advances to the full House, where it is expected to be voted on Thursday. It might be approved by the Senate and sent to the governor later in the day.