Government by the crooks: Exelon wants to buy Illinois’ state legislature 

I don’t think I’ve ever seen anything this brazen, even in Illinois. Commonwealth Edison’s parent company, Exelon, is offering to give the state government $500 million to help with its budget crisis, in exchange for the state giving ComEd permission to hike rates on its utility customers.

A senior executive for Commonwealth Edison Co. parent Exelon Corp. said Illinois legislative leaders asked ComEd to submit its recent offer of $500 million to help the state with its massive budget shortfall in return for freezing electric rates at above-market levels for four years.

“This was done by us — by invitation — from the highest leadership in the Illinois Legislature,” Exelon Executive Vice-president William Von Hoene Jr. said Wednesday at an investor presentation in New York. “Over a month ago, we met with legislative leaders, who told us that they would like us to put together a proposal that would provide cash for the state of Illinois to address parts of its budget shortfall and also provide some innovative features that would be attractive to us.”

Gov. Pat Quinn, D, admits he knew about this scheme. I’m going to go out on a limb and say that his will not help his re-election chances.

This is how government works in Chicago and Springfield, but it’s rarely done in such a transparently corrupt fashion. Usually, Exelon just hires the son of the state Senate President when it wants a rate hike.

About The Author

David Freddoso

David Freddoso came to the Washington Examiner in June 2009, after serving for nearly two years as a Capitol Hill-based staff reporter for National Review Online. Before writing his New York Times bestselling book, The Case Against Barack Obama, he spent three years assisting Robert Novak, the legendary Washington... more
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