Full Ameren rate increase request denied
Statement by Robert Gallo, State Director for AARP Illinois
SPRINGFIELD, Ill., April 29 /PRNewswire-USNewswire/ -- "Today, by a vote of 3-2, the Illinois Commerce Commission stood up for Illinois consumers by rejecting Ameren's $130 million rate increase proposal. The ICC approved a $4.7 million rate increase for the downstate utility giant, far short of Ameren's original request. AARP applauds the ICC for standing up for consumers and striking a fair balance between the needs of Illinois consumers and the profit interests of utility service providers like Ameren.
"The reality is that people are getting hit hard financially these days - at the gas pump, the grocery store, the pharmacy, everywhere. Ameren's rate increase proposal was exorbitant and would have created an unfair financial burden on consumers across the state. Illinoisans should not have to make a choice between keeping their lights on and filling a prescription or buying groceries. AARP commends the ICC for taking the side of consumers given the fiscal reality that many Illinois families face in this economic climate.
"In 2009, in the midst of an economic recession, Ameren made $127 million in profit, more than doubling their 2008 profits. Today's decision by the ICC shows that Ameren will not be allowed to continue to balance their corporate checkbooks on the backs of Illinois consumers.
"AARP would like to particularly thank the members of the Commission who voted for the significantly reduced rate increase, including Acting Commission Chair Manny Flores, Acting Commissioner John Colgan, and Commissioner Sherman Elliott. Again, AARP commends the Illinois Commerce Commission for doing the right thing for Illinois consumers.
SOURCE AARP Illinois