ComEd CEO Joseph Dominguez argues that the power utility should be judged by its performance, not the scandal stemming from its political influence operation. I’ll believe this when ComEd takes action to support it.
ComEd can start by voluntarily ending its participation in “formula ratemaking,” which allows the utility to operate under decreased oversight by state regulators. Since the company flexed its political muscle to radically reshape utility regulation in 2011, formula rates have been a huge boon to its bottom line: its rate base — what it profits off of — has increased by 84 percent.
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ComEd sold formula rates as a means to improve reliability, which had been poor after decades of mismanagement, as well as to build out the “smart” grid. Now that reliability has stabilized and smart grid investments are largely complete, why does ComEd still need this extraordinary regulatory treatment? If the utility is eager to be judged by its performance, it should welcome regulatory oversight.
Second, ComEd can rein in its expansive political influence operation, which, among other things, has been working to extend formula ratemaking for another decade. ComEd does not need an army of lobbyists and political consultants, nor its extraordinary political campaign spending, to provide input to policy makers and regulators.
ComEd has these and more opportunities to demonstrate its commitment to performance over political influence. Until and unless it does, its customers and decision makers should treat ComEd’s spin as more of the same.
Abe Scarr
State Director
Illinois PIRG
Impeachment diverts from Trump success
There has been a lot of speculation in the media about why House Speaker Nancy Pelosi passed the incredibly unconstitutional and weak articles of impeachment so quickly, saying they were so “urgent” to protect our country, and then sat on them for three weeks over the holidays. Pelosi said she did so to put pressure on Republican Senate Leader Mitch McConnell to run the impeachment trial her way instead of following the Constitution, which gives the Senate the right to do it its own way.
Thankfully, McConnell stood strong and refused to give in. And now Democrat Pelosi has caved and announced that she will release the impeachment articles next week. What changed?
What changed is that on Jan. 15 the United States will sign the most important trade deal in U.S. history, a deal that will stop China’s massive cheating and stealing. Anybody who doesn’t think that Pelosi is releasing these phony impeachment charges in the same week so as to divert the attention of American voters from this great Trump victory is living in an alternate universe!
The Democrats just can’t live with that good news as we approach the 2020 elections. How else can they argue against the lowest unemployment and best economy in decades, the highest stock market in history, and a fantastic China trade deal under President Trump? The impeachment charade!
Randy Rossi, Grayslake
