From Crain’s Chicago Business:
A new four-year capital plan shows ComEd spending even more per year than it did on its smart grid. That means higher rates, but this time ComEd is short on specifics of what we’re paying for. Crain’s has more.
The whole “Smart Grid” gambit was a fraud on ratepayers.
Commonwealth Edison was given a franchise monopoly to generate and deliver electricity decades and decades ago.
The firm failed to update its infrastructure to assure reliable service.
Instead of regular improvements to its infrastructure financed by revenue over the years, it asked the Illinois General Assembly to override the Illinois Commerce Commission.
And, fueled by contributions from those with an interest in currying favor with Com Ed and Amneren, rate hikes were approved by legislators.
There is a certain irony in this.
As I have written before, I met Samuel Insall’s secretary on the train to Springfield during the 1970’s.He told why the Commerce Commission was formed.
Insull figured it would be cheaper to bribe the majority of a Commerce Commission that a majority of the General Assembly.
Now, the ICC is the protector of ratepayers.
Hence, the Smart Grid rip-off.
It would make reading meters more efficient, right?
No need for meter readers to walk from yard to yard.
The meter readers are gone, most absorbed into the other Com Ed jobs.
But, the power company says it needs more money from us.