The Illinois Appellate Court ruled late last month that ComEd must pay its customers some $37 million in refunds following a rate dispute that began in 2007. Divided equally among its customers, the ruling would amount to a $10 refund to each ComEd consumer.

The dispute sprang out of a $274 million rate hike ComEd was allowed to impose on customers back in 2007. Illinois Attorney General Lisa Madigan and the Citizens Utility Board (CUB) argued that depreciation of the energy company's equipment should have been considered in the rate hike, which it was not. After a lengthy battle, the Appellate Court's decision came down on the side of Madigan and CUB.

"Consumer advocates never gave up on this battle, and we're happy to hear that ComEd has been ordered to refund its customers for money it shouldn't have had in the first place," said David Kolata, CUB executive director, in a statement.

ComEd, however, is not pleased with the ruling and may take further legal action, as indicated in a statement following the decision.

"We are disappointed with the Appellate Court's decision arising from the 2007 rate case. While we will continue to review the court's opinion and our options on this matter, ComEd remains focused on modernizing the electric system serving northern Illinois, including the deployment of digital smart meters to give customers greater control over their energy consumption and costs," the statement reads.