Governor Shoots Down Rate Hike Bill

CHICAGO (AP) – Gov. Pat Quinn has rejected a plan to increase electric rates by roughly $70 million, a proposal ComEd says would have helped get so-called Smart Grid technology back on track.

Quinn vetoed the plan Sunday saying the bill would undermine oversight and force automatic rate hikes. ComEd touted the bill as a way to clarify 2011 legislation allowing utilities to raise rates to fund a high-tech system. But executing it has been tricky.

The Illinois Commerce Commission and ComEd disagreed over implementation. ComEd filed a court appeal over technical matters. And ComEd faces a class-action lawsuit over installation delays.

ComEd officials say they’re disappointed and the veto threatens jobs.