Update on Bill That Could Result in Electric Rate Increase in IL
< 1 min readYesterday, a Senate Committee narrowly approved the latest incarnation of the Taylorville Energy Center (TEC) proposal, which was changed from SB 1653 to SB 678. The new bill, SB 678, is before the full Senate for consideration, potentially as soon as this afternoon or this evening.
As noted in yesterday’s blog post, the TEC proposal would require Illinois businesses, families, and government agencies to subsidize a power plant by paying almost $9 billion over a 30-year period. The proponents of the measure admitted yesterday that the legislation that will result in annual rate increases of at least $286 million every year.
Businesses that want to avoid an unnecessary electric rate hike and major subsidy proposal can act now by clicking on this link http://www.stopcoalition.com/take-action and following an easy 2-step process. Businesses can also visit www.STOPCoalition.com to learn more.