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95TH GENERAL ASSEMBLY
State of Illinois
2007 and 2008
SB0615
Introduced 2/8/2007, by Sen. James F. Clayborne, Jr. SYNOPSIS AS INTRODUCED:
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Amends the Public Utilities Act. Provides that an electric utility shall file with the Illinois Commerce Commission, subject to approval by the Commission, plans to develop short-term and long-term fixed price purchases, spot acquisitions, and the use of financial hedges, and to provide power justly and prudently priced, as determined by the Commission's rate setting process, from an affiliate of the electric utility that owns electric generating units or stations. Provides that an electric utility shall use the plans to develop and submit to the Commission a diversified power procurement pricing strategy that considers the level of competitive options for each customer class. Effective immediately.
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| FISCAL NOTE ACT MAY APPLY | |
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A BILL FOR
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SB0615 |
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LRB095 10876 MJR 31156 b |
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| AN ACT concerning regulation.
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| Be it enacted by the People of the State of Illinois,
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| represented in the General Assembly:
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| Section 5. The Public Utilities Act is amended by adding |
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| Section 9-247 as follows:
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| (220 ILCS 5/9-247 new) |
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| Sec. 9-247. Submission of diversified power procurement |
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| pricing strategy. |
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| (a) An electric utility shall file with the Commission, |
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| subject to approval by the Commission, plans to develop |
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| short-term and long-term fixed price purchases, spot |
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| acquisitions, and the use of financial hedges, and to provide |
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| power justly and prudently priced, as determined by the |
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| Commission's rate setting process, from an affiliate of the |
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| electric utility that owns electric generating units or |
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| stations. |
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| (b) An electric utility shall use the plans specified in |
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| subsection (a) of this Section to develop and submit to the |
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| Commission a diversified power procurement pricing strategy |
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| that considers the level of competitive options for each |
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| customer class.
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| Section 99. Effective date. This Act takes effect upon |