Senate Sponsors: SULLIVAN-MAHAR-WALSH,L-GEO-KARIS. House Sponsors: NOVAK-HASSERT-COWLISHAW-GRANBERG-BRUNSVOLD Short description: UTIL RATE INDEX TREASURY BOND Synopsis of Bill as introduced: Amends the Public Utilities Act. Provides that for purposes of calculating the rate index authorized during the deregulation mandatory transition period, an electric utility shall substitute the average yields of 10-year U.S. Treasury Bonds (with specified adjustments) in place of the average yields of 30-year U.S. Treasury Bonds if the Federal Reserve System ceases to include the monthly yields of 30-year Treasury Bonds in its weekly H.15 Statistical Release. Effective immediately. SENATE AMENDMENT NO. 1. Provides that the Monthly Treasury Long-Term Average Rates published in the weekly H.15 Statistical Release, rather than adjusted average yields of 10-year U.S. Treasury Bonds, shall be used to calculate the rate index authorized during the deregulation mandatory transition period. Provides that the Monthly Treasury Long-Term Average Rates shall also be used to determine whether an electric utility may request a rate increase during the mandatory transition period. HOUSE AMENDMENT NO. 1. Adds reference to: 220 ILCS 5/16-102 Amends the Public Utilities Act to extend the mandatory transition period under the Electric Service Customer Choice and Rate Relief Law of 1997 from January 1, 2005 to January 1, 2007. HOUSE AMENDMENT NO. 2. Adds reference to: 220 ILCS 5/16-111 Amends the Public Utilities Act. Provides that, after December 31, 2004, the limitations on rate increases during the mandatory transition period under the Electric Service Customer Choice and Rate Relief Law of 1997 does not apply to certain electric utilities that served between 150,000 and 250,000 retail customers in this State on January 1, 1995. FISCAL NOTE, H-AM 5 (Illinois Commerce Commission) To the extent self-assessing purchasers are currently paying for electricity at the frozen bundled rate of the utility in whose service area they take service, and to the extent House Amendment #5 has the effect of maintaining such rates for an additional 2 years (from 1/1/2005 to 1/1/2007), there should be no material impact on State revenue. HOUSE AMENDMENT NO. 5. Adds reference to: 220 ILCS 5/9-220 from Ch. 111 2/3, par. 9-220 Amends the Public Utilities Act. Extends the period during which certain electric public utilities may not reinstate fuel adjustment clauses. Extends the period during which certain electric utilities may increase rates to coincide with the extended mandatory transition period. Increases the earnings threshold at which an electric utility must make refunds to customers for electric utilities serving fewer than 6,500, or between 75,000 and 150,000, electrical customers in Illinois on January 1, 1995 if the utility commits not to petition for certain transition charges. Provides that the exemption from limits on rate increases for utilities serving between 150,000 and 250,000 customers does not apply if the utility is acquired by another electric utility. Effective immediately. Last action on Bill: PUBLIC ACT.............................. 92-0537 Last action date: JUN-06-2002 Location: Senate Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 3 SENATE - 1 END OF INQUIRY Full Text Bill Status