Dive Summary:

• The Illinois Commerce Commission approved new rates on Wednesday that will raise bill by about $1 per month for 3.7 million Commonwealth Edison customers in the state.
• ComEd was expected to file for another rate update in May, which could take effect in 2014 if approved.
• The formula was set in May, but ComEd has challenged certain items.

From the article:

"... The rate "update" is the second under a law enacted in 2011 that changed the way electricity delivery rates are determined. Rather than intensely debated court-like proceedings, electric rates are now set according to a fill-in-the blank formula. The formula devised by the ICC in May, however, has been controversial. ComEd has taken the regulators to court over 12 items that amount to $100 million per year for the utility. ..."