Dieve Brief:
- Chicago Mayor Rahm Emanuel wants to tap into funds that utility Commonwealth Edison (ComEd) collects from ratepayers on their electric bills to help pay for energy efficiency projects at 75 city-owned buildings.
- The city's infrastructure trust, which Emanuel created in April 2012, wants state regulators to approve use of the ComEd funds. ComEd collects about $160 million a year from customers and the money is used for light bulb upgrades and appliance rebates.
- The filing does not provide detail as to what projects would be funded or how much money would be needed. "We're figuring out the details of what the infrastructure trust is proposing and seeing if we can get more bang for our buck," Val Jensen, senior vice president of customer operations at ComEd, told the Chicago Tribune.
Dive Insight:
ComEd has met just 71% of the state's target for energy efficiency this year. It wants regulators to loosen the targets, arguing that it will only be able to meet 35% of the goals in 2016.