Short Circuits

Dan Curry at Reverse Spin with more background on the Power Politics. I would say ComEd is obviously not getting their protection money's worth from Quinn and the governor.

The bill is pending. Latest here (Comment from President of ComEd):

Mitchell said when Pacific Gas & Electricity, a large California utility, declared bankruptcy during that state's bungled deregulation, its legal fees reached $450 million.

"The consumers ended up paying for that," Mitchell said.

Bankruptcy might allow ComEd to get out of the contracts for power it signed. But becoming a deadbeat creates its own problems.

Power generators might fear ComEd was an unreliable customer and charge extra for the risk of dealing with the utility.

"What potential supplier would enter into a contract with us?" Mitchell asked.