Illinois General Assembly - Bill Status for HB2862

Amends the Public Utilities Act. Provides that the Illinois Commerce Commission shall not authorize any charges based upon changes in the cost of fuel. Removes provisions concerning the Commission's ability to authorize the increase or decrease of a public utility's rates and charges based upon changes in the cost of fuel used in the generation or production of electric power, changes in the cost of purchased power, or changes in the cost of purchased gas through the application of fuel adjustment clauses or purchased gas adjustment clauses and based upon expenditures or revenues resulting from the purchase or sale of emission allowances through such fuel adjustment clauses as a cost of fuel. Removes provisions concerning a public utility's ability to, at any time during the mandatory transition period, file with the Commission proposed tariff sheets that establish the rate of the provided utility to be applied pursuant to the public utility's fuel adjustment clause at the average value for such rate during the preceding 24 months, provided that such average rate results in a credit to customers' bills, without making any revisions to the public utility's base rate tariffs.

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