News and Music Discovery
Play Live Radio
Next Up:
0:00
0:00
0:00 0:00
Available On Air Stations

Power Company Offers Illinois Bailout

By Angela Hatton

Springfield, IL – Illinois Governor Pat Quinn says he wants to review a $500 million offer from ComEd before taking action on it. The power company is offering to give Illinois $500 million to help fill the state's massive budget deficit in exchange for guaranteed future profits on electrical rates. Quinn says that he doubts such a complicated proposal can be done before the spring legislative session wraps up this week. But the Chicago Democrat did not reject the idea and says he wants to go over it with a microscope. Consumer advocates criticize the proposal as bad for ComEd customers. The Citizens Utility Board is against it, as is Attorney General Lisa Madigan.