PEORIA -- The Citizens Utility Board says that Ameren doesn't need the $90 million rate hike it's now seeking from the Illinois Commerce Commission.
CUB's communication director Patrick Deignan, and CUB board member from the 18th Congressional District Randy Fritz spoke at an Aug. 25 news conference at Friendship House about the proposed rate increase.
They were joined by Mary Patton, a volunteer for the AARP, who said the elderly in Illinois are already paying 14 percent of their household income for utilities, and cannot afford to pay more.
CUB received a $41 million increase last year, and tried to get automatic rate increases turned into law by the Illinois General Assembly, she said, adding Gov. Pat Quinn has promised to veto the bill, so Ameren is seeking the rate increase instead.
Deignan urged citizens to contact the ICC to comment on the rate proposal and sign a petition against it. The website StopAmeren.com will direct people on ways to do this.
Deignan said the rate increase proposal is based on inflated costs and an investor return of 11 percent, excessive in today's low yields. "The company is healthy. It doesn't deserve more."
Fritz said the company should be returning $2 million to its customers. "If you're going to speak up, speak up now," he said.
A public hearing is scheduled next week in Springfield, and the ICC is expected to reach a decision in January.
-- Elaine Hopkins
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