Another Obama promise was to raise electric rates.
Consumers could see their electricity bills jump an estimated 40 to 60 percent in the next few years.
The reason: Pending environmental regulations will make coal-fired generating plants, which produce about half the nation's electricity, more expensive to operate. Many are expected to be shuttered.
The increases are expected to begin to appear in 2014, and policymakers already are scrambling to find cheap and reliable alternative power sources. If they are unsuccessful, consumers can expect further increases as more expensive forms of generation take on a greater share of the electricity load...
Exactly how much bills will go up is unclear.
What analysts know is that a portion of ComEd bills that pays electricity generators to reserve a portion of their power three years into the future will increase more than fourfold. That would translate into increases of $107 to $178 a year for an average residential customer in ComEd's territory, starting in 2014, according to calculations by Chris Thomas, policy director for consumer advocacy group Citizens Utility Board.
Video of Obama statements here
Answer by Melbornj at 6:16 PM on Jun. 12, 2011
Answer by BabyBugsmama at 6:19 PM on Jun. 12, 2011
Answer by LittleBirdFly at 6:21 PM on Jun. 12, 2011
I think this was the concern with cap and trade, but they knew they couldn't get it passed so he is going to find other ways around it (EPA). I don't know how much more the American middle class can take before he is out of office. I mean, just now he is starting to say that recovery is going to take some time. Before it was a matter of getting that stimulus passed so that unemployment wouldn't go up. It went up anyhow and no money went to securing or creating jobs. There is still unused funds from all of the craptacular spending they passed and I wouldn't be at all surprised to see an injection of that pre-election. People that don't pay much attention to actual politics will be fooled into thinking he delivered on a promise. Once he has their vote, the bill - along with a healthy dose of reality will come.
Answer by QuinnMae at 7:55 PM on Jun. 12, 2011
Answer by wheresthewayout at 10:09 PM on Jun. 12, 2011
Answer by yourspecialkid at 10:39 PM on Jun. 12, 2011
Answer by BabyBugsmama at 10:50 PM on Jun. 12, 2011
Answer by Kitkat61277 at 10:59 PM on Jun. 12, 2011
Answer by Farmlady09 at 11:11 PM on Jun. 12, 2011
Check out some of the top posts today in Groups: