92nd General Assembly
Summary of SB2081
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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


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