The state and ComEd are close to reaching an agreement that would save us money on our electric bills, one billion dollars in rebates over the next four years but critics argue while it sounds like a good deal it's really not much savings at all.
We all know those rates spiked the first of the year about 25% after the ten year rate freeze expired. That increase brings in about one billion dollars extra a year from residential customers. So in that context, for them to give back one billion dollars over the course of four years doesn't seem like much but those at the Citizens Utility Board or CUB remain hopeful.
The deal is expected to be finalized by the end of the week. A key negotiator for the state says they're still figuring out whether customers will receive rebate checks for rate increases they've paid this year or will get credits on future bills.