ComEd’s $650 million power play
As documented in our December, 2020 report, Guaranteed Profits, Broken Promises, ComEd built an unparalleled political influence operation to pass the 2011 Energy Infrastructure Modernization Act (EIMA), the law creating automatic “formula” rate hikes. Once built, ComEd continued to use its influence operation to win further windfalls for ComEd and Exelon. One of the best examples was when it returned to the Illinois General Assembly for more profits through a 2013 EIMA trailer bill. In our report, we calculated that this power play resulted in at least $400 million in additional profits for ComEd since the trailer bill passed in 2013, all paid for by ComEd’s customers. With new and additional analysis, we are updating our calculation to over $650 million.