AARP, Groups Urge Legislature to Uphold Veto on SB1652

Legislation would guarantee Annual Rate Increases, Huge Profits for ComEd, Ameren at Ratepayers Expense

SPRINGFIELD, Ill., Oct. 25, 2011 /PRNewswire-USNewswire/ -- With legislators back in Springfield, AARP Illinois, other advocacy groups and community organizations are bringing the voice of Illinois consumers to the State Capitol, to ensure that the Governor's veto of Senate Bill 1652 stands. The legislation, pushed by ComEd and Ameren, would increase electric rates annually for the next ten years, while guaranteeing utility companies huge profits at ratepayers' expense.

Today, hundreds of residents from across the state, joined by Lt. Governor Sheila Simon, gave a press conference outside AARP Illinois' State Office, before rallying and visiting legislators in the Capitol.

"We don't need to beat around the bush about why we are here today," said Dr. Alvin Love, President Emeritus of the Baptist General Convention of Illinois. "We are here to send a strong and clear message to Illinois lawmakers: do not override the Governor's veto of Senate Bill 1652."

"Senate Bill 1652 is not the smart way to build a smart grid," Simon said. "Illinois residents deserve stronger consumer protections and no guaranteed corporate profits."

"It is simply wrong for Illinois lawmakers to allow ComEd and Ameren to bolster their corporate profits on the backs of Illinois consumers," said Nancy Funk, an AARP volunteer from the Decatur area.

AARP, along with Governor Pat Quinn, Lt. Gov. Sheila Simon, Attorney General Lisa Madigan and numerous advocacy, consumer and community organizations have opposed Senate Bill 1652 since it was first introduced. The measure narrowly passed both chambers in the spring and was vetoed by the Governor in September. The groups are strongly urging legislators to uphold the Governor's veto.

SB1652 would write utility company profits into state law by guaranteeing companies a return on equity of over 10%.  The legislation would also result in nearly automatic rate.

SB1652 would also shorten the rate review process and eliminate the voice of the consumer in the ratemaking process, paving the way for even higher profit margins.

Last week, AARP, the Environmental Law Policy Center and business groups released a statewide telephone survey of registered voters, showing that nearly 7 in 10 Illinois residents oppose annual increases in their electric bills, while over half (52 percent) stated that they would 'not likely at all' vote for a legislator who allows electric utilities to raise their rates annually.

AARP is urging individuals to call, toll free 1-800-719-3020, and urge their legislators to uphold the Governor's veto. Further information and action steps are available at: http://saynotoratehikes.org.

SOURCE AARP Illinois