Gov. Bruce Rauner signed legislation Friday that lets Ameren Illinois and ComEd seek annual rate increases for two more years as a means to pay for smart grid technology.
The previous Illinois General Assembly, under former Gov. Pat Quinn, passed the measure. It was not sent to Quinn's desk over concerns that he would veto the bill.
The legislation signed by Rauner lets the utilities raise rates based on a formula until 2019 as a means to pay for improvements to the infrastructure that delivers electricity. The rate hikes were originally set to sunset in 2017.