SB 2121

Abstract

Amends the Public Utilities Act. Provides that the Illinois Commerce Commission shall, within 9 months after an application is filed, issue its Order approving or denying any proposed reorganization involving the acquisition by a public utility or its affiliate of all of the common stock or substantially all of the operating assets, whether by merger, creation and acquisition of a limited liability or other company, or otherwise, of another public utility that has secured debt that is, or was, within the year prior to the filing of the application, rated below investment grade by at least 3 nationally recognized rating agencies. Establishes standards for production of electricity through renewable energy resources. Requires electric utilities and alternative retail electric suppliers to supply to Illinois customers electricity produced from renewable energy resources on an increasing scale beginning at 2% in 2005 and rising to 15% in 2020 and each year thereafter. Provides for enforcement by the Commission.