Post by capncrunch on Mar 1, 2015 19:11:17 GMT -6
I read an article from Chicago Tribune and thought that I would share:
State Sen. Dan Duffy calls for ComEd investigation
State Sen. Dan Duffy
State Sen. Dan Duffy. (E. Jason Wambsgans, Chicago Tribune)
Staff report
Charity
Finance
Lisa Madigan
John Rowe
ComEd should be investigated for using ratepayer monies for charitable contributions
State Sen. Dan Duffy has asked Attorney General Lisa Madigan and the Illinois Commerce Commission to investigate ComEd's use of ratepayer funds for charitable contributions.
Your money, ComEd's donation: Customers pay tab for contributions
Your money, ComEd's donation: Customers pay tab for contributions
Duffy cited a story in the Sunday Chicago Tribune that detailed how ComEd, the electric utility owned by Chicago-based Exelon, had collected $60 million over the past eight years and disbursed that money to politically influential organizations, some with the power to aid the state's largest utility.
"The allegations in the Tribune article are serious and call for immediate action,'' Duffy wrote in a letter to Madigan. "ComEd should be required to disclose these contributions to ratepayers. At best, ComEd shareholders, not ratepayers, should bear the burden of funding these contributions.''
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The newspaper article noted that each month ComEd collects a small portion of every customer's bill for the utility's charitable contributions. The company had said the donations, which aren't detailed on bills, cost only pennies per month β about 15 cents per customer.
The Commerce Commission, which regulates ComEd and other public utilities, has previously disallowed some of the ratepayer donations. For example, the commission told ComEd in 2011 that it couldn't bill ratepayers for a $677,000 contribution to a nuclear engineering program at the University of Wisconsin aimed at recruiting Exelon job candidates. The school is the alma mater of John Rowe, who was then chief executive of Exelon.
cComments
@bradjk Jim Thompson gave it the okay. I assume ComEd had a Lobbyist pay him a few visit$$.
Bushfail
at 2:30 PM February 26, 2015
Add a comment See all comments
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In statement, ComEd said its record for corporate citizenship is a source of pride for everyone who works at ComEd.
"The contributions provide important benefits to our customers. All ComEd contributions are made in accordance with the Illinois law that has been in place for three decades. ... Every contribution is reviewed during the annual rate proceeding and is subject to challenge by any third party who wishes to weigh in including the Attorney General (AG). No contribution is recovered unless approved by the Illinois Commerce Commission (ICC) upon completion of the investigation process.''
ComEd began collecting money for its contributions with passage of a state law in 1987.
Several experts were quoted in the Sunday Tribune story saying that charitable contributions should be paid for by shareholders, not ratepayers. Each year ComEd collects an average of about $7 million from ratepayers for its donations.
Exelon last year posted a profit of $1.6 billion on revenue of $27.4 billion.
The Citizens Utility Board, a watchdog group, has been pushing since 2012 for more detailed reporting on ComEd's gifts, saying the reports lack information about why the money was given or how it was spent.
The newspaper's story also told of money donated to golf outings and dinners.
Duffy wrote in his letter to Madigan that state regulators "allowed ComEd to use ratepayer funds to donate to a golf outing for a foundation that is sponsored by a group of lawmakers. At a minimum, this gives an impression of ComEd influencing lawmakers through charitable donations that are funded by ratepayers. The article states numerous other examples of potentially improper use of ratepayer funds.''
In a statement, Madigan spokeswoman Natalie Bauer Luce said: "The attorney general has a long, consistent record before the Illinois Commerce Commission in opposing ComEd's unfair charges to customers. Unfortunately, Illinois law allows ComEd to pass the costs of its charitable donations onto ratepayers. That law should be changed to better protect ratepayers."
Tribune reporter Robert Channick contributed.
State Sen. Dan Duffy calls for ComEd investigation
State Sen. Dan Duffy
State Sen. Dan Duffy. (E. Jason Wambsgans, Chicago Tribune)
Staff report
Charity
Finance
Lisa Madigan
John Rowe
ComEd should be investigated for using ratepayer monies for charitable contributions
State Sen. Dan Duffy has asked Attorney General Lisa Madigan and the Illinois Commerce Commission to investigate ComEd's use of ratepayer funds for charitable contributions.
Your money, ComEd's donation: Customers pay tab for contributions
Your money, ComEd's donation: Customers pay tab for contributions
Duffy cited a story in the Sunday Chicago Tribune that detailed how ComEd, the electric utility owned by Chicago-based Exelon, had collected $60 million over the past eight years and disbursed that money to politically influential organizations, some with the power to aid the state's largest utility.
"The allegations in the Tribune article are serious and call for immediate action,'' Duffy wrote in a letter to Madigan. "ComEd should be required to disclose these contributions to ratepayers. At best, ComEd shareholders, not ratepayers, should bear the burden of funding these contributions.''
lRelated ComEd's smart grid plan may get more time
Business
ComEd's smart grid plan may get more time
See all related
8
The newspaper article noted that each month ComEd collects a small portion of every customer's bill for the utility's charitable contributions. The company had said the donations, which aren't detailed on bills, cost only pennies per month β about 15 cents per customer.
The Commerce Commission, which regulates ComEd and other public utilities, has previously disallowed some of the ratepayer donations. For example, the commission told ComEd in 2011 that it couldn't bill ratepayers for a $677,000 contribution to a nuclear engineering program at the University of Wisconsin aimed at recruiting Exelon job candidates. The school is the alma mater of John Rowe, who was then chief executive of Exelon.
cComments
@bradjk Jim Thompson gave it the okay. I assume ComEd had a Lobbyist pay him a few visit$$.
Bushfail
at 2:30 PM February 26, 2015
Add a comment See all comments
26
In statement, ComEd said its record for corporate citizenship is a source of pride for everyone who works at ComEd.
"The contributions provide important benefits to our customers. All ComEd contributions are made in accordance with the Illinois law that has been in place for three decades. ... Every contribution is reviewed during the annual rate proceeding and is subject to challenge by any third party who wishes to weigh in including the Attorney General (AG). No contribution is recovered unless approved by the Illinois Commerce Commission (ICC) upon completion of the investigation process.''
ComEd began collecting money for its contributions with passage of a state law in 1987.
Several experts were quoted in the Sunday Tribune story saying that charitable contributions should be paid for by shareholders, not ratepayers. Each year ComEd collects an average of about $7 million from ratepayers for its donations.
Exelon last year posted a profit of $1.6 billion on revenue of $27.4 billion.
The Citizens Utility Board, a watchdog group, has been pushing since 2012 for more detailed reporting on ComEd's gifts, saying the reports lack information about why the money was given or how it was spent.
The newspaper's story also told of money donated to golf outings and dinners.
Duffy wrote in his letter to Madigan that state regulators "allowed ComEd to use ratepayer funds to donate to a golf outing for a foundation that is sponsored by a group of lawmakers. At a minimum, this gives an impression of ComEd influencing lawmakers through charitable donations that are funded by ratepayers. The article states numerous other examples of potentially improper use of ratepayer funds.''
In a statement, Madigan spokeswoman Natalie Bauer Luce said: "The attorney general has a long, consistent record before the Illinois Commerce Commission in opposing ComEd's unfair charges to customers. Unfortunately, Illinois law allows ComEd to pass the costs of its charitable donations onto ratepayers. That law should be changed to better protect ratepayers."
Tribune reporter Robert Channick contributed.