From State Senator Dan McConchie:
Energy overhaul…or bailout?
The Democratic majority passed a controversial comprehensive energy package Monday that includes the largest ratepayer increase in Illinois history.
The legislation provides Exelon’s second bail out in five years with $700 million with an estimated $14 billion in ratepayer increases.
Additionally, it allows private for-profit companies to take private property from Illinois citizens on a broader scale without due process and allows state facilities to have their own coal plants while forcing private companies to shut theirs down.
There are some positives in the legislation, however. It will keep our nuclear fleets online and protect thousands of jobs throughout the state.
We hope to continue to negotiate improvements on the legislation in the coming session in the hopes that we can reduce the financial strain on Illinois families.