AARP Calls Out ComEd's 'Shell Game', Calls Senate President To Say No To SB9
Legislation Just a Tactic to Strengthen ComEd's Grip on Commerce Commission
Statement from AARP Illinois State Director Bob Gallo
SPRINGFIELD, Ill., Feb. 12, 2013 /PRNewswire-USNewswire/ -- "ComEd is at it again – pushing legislation designed to strengthen its grip on the Illinois Commerce Commission, deny consumers the money they are owed, and increase their profits.
ComEd is urging legislators to vote Yes on Senate Bill 9, a follow-up to their so-called Energy Infrastructure Modernization Act. Like the original bill in 2011, SB9 is not about infrastructure, is not about modernizations, and has very little to do with actual energy. Even worse, SB9 does not even have language in it. It is what they call in Springfield a 'shell bill'. We call it a shell game, designed to trick legislators and consumers by hiding the real language until it's time to vote for it.
ComEd's real game is to reverse the Commerce Commission's ordered $133 million rate cut. What ComEd does not want consumers to know is that the ICC order was based on the law – the very same law ComEd pushed through the General Assembly in 2011. ComEd is worried about their bottom line – and that of their parent company, Exelon. Exelon is suffering from low natural gas prices, a merger that is not working out as planned, an $870 million tax liability from the IRS, and accusations of lying to the Nuclear Regulatory Commission. As a result Exelon is cutting their own annual dividend by 40% to look profitable. SB9 is simply an attempt by ComEd to pass these troubles along to already burdened consumers. This is what ComEd's shell game is really about – and the name of the game is money. AARP is calling on Senate President John Cullerton to kill SB9 before language is even attached to it. We are urging our members, and the public, to call our toll-free utilities hotline, 800-719-3020 and urge their Senators to oppose the bill." SOURCE AARP Illinois
Select the service that is right for you!
COMPARE ALL SERVICESAction Alerts PLUS
TRY IT FREEJim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
Product Features:
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Dividend Stock Advisor
TRY IT FREENew! $49.95/yr
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
Product Features:
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Stocks Under $10
TRY IT FREEDavid Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.
Product Features:
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
- Weekly roundups
Real Money
TRY IT FREE24/7 market commentary from Jim Cramer and 20+ veteran Wall Street gurus. Get access to the latest trading ideas on stocks, options, and ETFs as well as a real-time forum to see the pros exchanging their investment ideas.
Product Features:
- Jim Cramer + 20 Wall Street pros
- Intraday commentary & news
- Real-time trading forum
- Actionable trade ideas
Real Money Pro
TRY IT FREEAll of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
Product Features:
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Options Profits
TRY IT FREEOur options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
Product Features:
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV
