I don’t write many emails to those who represent me in Springfield, but the proposed third Commonwealth Edison bailout in a decade really bothers me.
So I sent the following email to my current legislators–
- State Senator Craig Wilcox and
- State Rep. Tom Weber–and to those the new map shows will be representing me starting in 2023, assuming their re-election–
- State Senator Don DeWitte and
- State Rep. Suzanne Ness:
Dear current and probable future legislators:
One of the worst votes I ever made was to allow ComEd to spin off their nuclear power plants.
The trade-off was that rates (already among the highest in the Midwest) would remain constant for ten years.
Here’s what I figured out later.
The nuclear power plants were near the end of depreciation. Had they not been spun off, electric rates would have had to be cut substantially, because of the end of depreciation. In other words, ComEd’s rate base would have been much lower.
I doubt any of you will understand the full implications of whatever ComEd bailout bill comes before you.
It will be too complicated.
I wish I had followed by instinct way back then–when in doubt, vote “No.”
= = = = =
Perhaps I should have attached this illustration:
So far, I have received no reply.