After a public corruption case, millions will be eligible for an energy rebate for electric bills.
Commonwealth Edison (ComEd) is a utility company that ended up paying a $200 million settlement after federal investigation.
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Nearly a decade of corruption
Commonwealth Edison (ComEd) is a utility company that was involved a scheme designed to bribe people close to Michael Madigan. Michael Madigan is a former Illinois Speaker of the House. This corruption was highly publicized after the US Department of Justice discovered that the company admitted to offering jobs and payouts to people closer to him.
After a federal investigation in 2020, ComEd ended up paying a $200 million settlement. However, Illinois residents still need retribution for the years of corruption. The utility company hopes to make amends by sending $38 million worth of refunds to their customers. The bribery investigation took eight years to complete.
How much is the electric bill refund?
ComEd serves more than 4 million American households and small businesses in Illinois– where the bribery took place. The $38 million refund proposal was approved by the Illinois Commerce Commission. $31 million of that money will be going directly to customers.
These payments are considered expenses to pay for their past illegal activity. The remaining $7 million has been set aside for customers via “federal regulatory process.”
Unfortunately, in terms of actual cash– customers won’t get much money. The checks that will be distributed will max out at $4.80 per household. This check will act as a credit and be applied to their April 2023 bill.
The Department of Justice dropped charges from the investigation, which will take place in 2023. However, this is only if ComEd continues operating at legal standards.
The refund proposal is one of the company’s most recent attempts to get back lost reputation and improve their practices.
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