Chicago Residential Real Estate News
32 views | +0 today
Follow
Your new post is loading...
Your new post is loading...
Rescooped by Jim Gramata from Surfing the Broadband Bit Stream
Scoop.it!

IL Senate overrides Quinn veto of smart grid rate hike | Chicago Tribune

IL Senate overrides Quinn veto of smart grid rate hike | Chicago Tribune | Chicago Residential Real Estate News | Scoop.it

Rejecting Gov. Pat Quinn's plea to not increase power rates to help improve some of the state's electrical grid, the Illinois senate voted to override his veto of a bill that bulks up the revenue Commonwealth Edison will receive as it modernizes the electrical grid.

The senators voted 44-11-1 on the measure, topping the 36 votes needed to override Quinn's veto of the measure this month.

Under current law, three-fifths of legislators in each chamber of the legislature must agree to override a veto from the governor. The original bill passed with more than 70 percent support in the House and Senate back in March.

In exchange for $2.6 billion in consumer rate hikes over 10 years, ComEd had pledged to digitize the electrical grid. The utility said that operational changes would ultimately save money and that in-home devices would give consumers more control over their electricity usage. New smart meters were to be installed throughout ComEd's service territory of roughly 3.8 million customers. About 130,000 have been installed as a pilot project.

But when it came time for 2011 law to be implemented, ComEd and the Illinois Commerce Commission disagreed. ComEd appealed 12 technical matters worth about $100 million a year it. The dispute continues in court.

 

Click headline to read more--


Via Chuck Sherwood, Senior Associate, TeleDimensions, Inc
Jim Gramata's insight:

Com Ed wins another rate hike by this veto by the senate. Sad day in Illinois

more...
No comment yet.
Scooped by Jim Gramata
Scoop.it!

The Death and Life of Chicago - New York Times

The Death and Life of Chicago - New York Times | Chicago Residential Real Estate News | Scoop.it
The Death and Life of Chicago
New York Times
It sank $350,000 into the repairs of one home, but even at the asking price of $105,000, no buyers could be found. So far only 91 of the units have sold.
more...
No comment yet.
Scooped by Jim Gramata
Scoop.it!

Hotel Lincoln put up for sale

Hotel Lincoln put up for sale | Chicago Residential Real Estate News | Scoop.it
A joint venture including Chicago-based hotel investor AJ Capital Partners has hired Eastdil Secured LLC to sell the former Days Inn at 1816 N. Lincoln Ave.
Jim Gramata's insight:

I just had drinks on the rooftop bar here last. I can't believe they're already selling!

more...
No comment yet.