SPRINGFIELD ─ State Senator Ram Villivalam is championing a measure that would increase transparency when utility companies ask the Illinois Commerce Commission to raise their rates.
“Cost of living is on the rise – and so are our utility bills,” said Villivalam (D-Chicago). “Meanwhile, utility rate hikes are occurring without transparency or an opportunity for public input.”
Currently, public hearings are only required for water utility rate increases if the ratepayers of the water utility request the ICC to host a public hearing.
To expand transparency, House Bill 4514 would require the ICC to hold a public hearing when any gas, electric, water or sewer utility requests that the commission increase their rates.
Further, the ICC would be required to notify ratepayers when a public utility requests a rate increase within 14 days of the public hearing – ensuring residents have ample notification to attend a hearing.
“Providing ratepayers with the ability to have a voice and increase transparency within the utility rate increase process is an imperative step to ensuring an affordable future for us all,” said Villivalam.
House Bill 4514 passed the Senate Wednesday.
