Dive Brief:
- The Illinois Commerce Commission voted this week to require investor-owned utilities to provide greater transparency on charitable giving funded by ratepayers, lowering the dollar-threshold and raising disclosure standards, Crain's Chicago Business reports.
- The previous rule required some disclosure once contributions reached $5,000, but the new regulations will require additional reporting and a new, lower $1,000-threshold.
- In 2015, Commonwealth Edison revealed it had made some $60 million in donations over the past eight years, going to 600 organizations—some which were politically influential, or close to the utility.
Dive Insight:
Illinois regulators voted 3-1 on the new donation disclosure rules, but Crain's Chicago Business reports the lone dissent, Commissioner Miguel del Valle, actually favored significantly stricter rules.
ICC Chairman Brien Sheahan issued a statement saying the new rule “requires substantially more reporting from utilities than previously required. The commission will continue to scrutinize utility donations to ensure that only those donations that are consistent with Illinois law are recoverable through customer rates.”
The utility told Crain's it supports the new rules.
ComEd last year came under criticism for some of its donations, including spending $27,000 for a 2013 golf outing hosted by members of the Illinois Legislative Black Caucus, and $10,000 for a 2012 cocktail reception honoring ComEd CEO Anne Pramaggiore.
Donations from the utility went to 600 organizations, including Lincoln Park Zoo, the United Way, and the Chicago Urban League. However, the Chicago Tribune reported that much of it also went to "politically influential" organizations.
Illinois is one of a few states which allows utility donations to be funded by ratepayers. Earlier versions of the new rule would have required utilities to inform ratepayers of the level of their donations, and another change would have required ComEd specific when it donates funds that the monies were coming from customer charges.
