SB3586

Amends the Illinois Power Agency Act to set caps on electric utility rates and energy transition assistance charges.

The bill amends the Illinois Power Agency Act by setting caps on electric utility rates and energy transition assistance charges. It reduces the total of renewable energy resources procured to limit the annual estimated average net increase in costs to no more than 4.25% for eligible retail customers. The energy transition assistance charge is capped at 1.3% of the amount paid per kilowatthour by eligible retail customers. The bill removes provisions for inflation adjustments in these rates.