Dive Summary:

• Gov. Pat Quinn on Sunday vetoed legislation to hike electricity rates by $70 million a year for ComEd’s grid modernization plan. Attorney General Lisa Madigan also opposes the rate hike.
• “I think it’s very important to make sure that we put the people of Illinois ahead of profits of big utility companies,” Quinn argued. However, House representatives said the veto won’t stick.
• ComEd, which needs $2.6 billion for a 10-year smart grid upgrade, estimates the average residential utility bill will jump by 40 cents a month and increase by 80 cents per month by 2017.

From the article:
“The utility had challenged the commission in court when it was denied about $100 million in rate hikes, of which only $65 million-$70 million is addressed in the legislation, ComEd claims.”