Illinois Utilities Accused Of Price-Fixing

Law360, New York (March 16, 2007, 12:00 AM EDT) -- Illinois Attorney General Lisa Madigan alleged Thursday that electricity suppliers manipulated prices at a 2006 auction involving Commonwealth Edison Co. and the Ameren Companies.

In a complaint filed Thursday with the Federal Energy Regulatory Commission, Madigan said that 5 million Illinois residents were paying electricity prices that were double the cost of generating electricity and 40% higher than electricity prices in the wholesale market.

“Ameren and ComEd customers should not have to pay twice the cost of generating the electricity needed to serve them,” Madigan said....
To view the full article, register now.