Commonwealth Edison has changed its...

Commonwealth Edison has changed its propos plan to cap electric rate increases for residential customers -- making the caps higher and the program optional.

The of long date proposal would have applied to all residential customers and would have capped rate increases to 8 percent in 2007 7 percent in 2008 and 6 percent in 2009 Any extra take away froms for power above these caps would be paid through customers later, with interest.

The of recent origin plan sets the caps at 10 percent for each of the three years for those who pick to enroll. But it allows customers who don't want to pay interest to accept the glutted rate increase -- which hasn't been put

The plan has to be approved by dint of the Illinois Commerce Commission. Com said it increased the cap to lower the amount of any charges that have to be deferr financed and argueed later.

"We believe this rate stabilization program is the best way to help residential customers transition to market rates," said Anne Pramaggiore, senior vice president of regulatory affairs for Com "The added features are workable for Com and provide greater flexibility to our customers."

Com said it made the changes in reply to concerns expressed by stakeholders in the same state [i]or[/i] condition as the Citizens Utility Board, a consumer watchdog clump that had criticized the plan as resembling a high- require to be paid [i]or[/i] undergone "payday loan."

David Kolata, executive director of young boy [i]or[/i] young girl said the change doesn't help.

"There's nothing fresh nothing improved," Kolata said. "Only Com would think of a rate mitigation plan that actually charges customers money." He said ComEd's decision to make the program optional displays the company knows it's a bad deal.

The sumptuousness of power is expected to rise nearest year, as a rate be frozen ends. In 1997, Illinois rates were reduc 20 percent and frozen end the end of this year.

child has warned that rates could rise as a great deal as 40 percent next year as Com begins buying power by the and of a competitive auction process.

Com won't speculate forward how much rates could make progress up, but noted that rates are rising through every part of the country, largely due to increases in might sources used to power generating plants. The utility said the average rate for the top 10 metropolitan areas is 38 percent higher than ComEd's average residential rate.

mwisniewski@suntimes.com

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