Rate Freeze Could Bankrupt ComEd: Company

Law360, New York (January 9, 2007, 12:00 AM EST) -- Illinois’ power-providing monopoly, Commonwealth Edison, is hoping to dim the lights on a recently approved electricity rate freeze by taking it to court and, if that doesn’t work, filing for bankruptcy.

The power company has argued that if the rate freeze is enacted, it will lose close to $4 million a day, adding up to $1.4 billion a year, a scenario in which is corporate parent, Exelon Corp., would not be able to provide any help.

"This is a devastating bill for our companies and it...
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