Press Release: Oct 31, 2006 (1:28 pm)


Coalition Says Rate Freeze Extension Would Be Scary

CHICAGO (Oct. 31, 2006) – Illinois consumers should watch out this Halloween: Lt. Gov. Pat Quinn’s call for an electricity rate freeze could lead to something truly scary – a California-like energy crisis here in Illinois. That’s the message today from Consumers Organized for Reliable Electricity (CORE), which is working to secure the future of Illinois’ electric industry.

“Quinn is playing a political game of trick-or-treat with Illinois consumers,” said Avis LaVelle, CORE spokesperson. “He offers the treat of supporting a rate freeze extension, but never mentions the trick of how that would significantly harm the reliability of Illinois’ electricity infrastructure.”

Quinn provides Illinois consumers with a scary scenario: like some other Illinois political candidates, Quinn is calling for the General Assembly to extend the current rate freeze.

CORE believes that the scarier scenario would be to approve the rate freeze proposal. Illinois electric rates have been frozen for nearly a decade. During that time, electric companies have sold their power plants, meaning they have to buy power for customers at market prices. A freeze would put companies in a buy-high, sell-low nightmare, quickly driving them into bankruptcy and threatening reliability of the overall system.

“A rate freeze extension would drive electric companies into bankruptcy and leave customers in the dark,” LaVelle said.

CORE is a coalition of business, labor, community and energy groups that support the preservation of reliable electricity, the transition of the industry to competition and energy decisions made by the experts at the Illinois Commerce Commission. CORE’s Advisory Committee members represent more than 100,000 businesses and more than one million individuals across Illinois.

For more information, visit the CORE web site at www.illinoiscore.org.