Gov. Pat Quinn, flanked by Illinois Attorney General Lisa General and consumer advocates, has vetoed the controversial energy rate hike bill. Some legislators are likely to campaign for an override of the veto in Springfield next month. The bill's sponsors reportedly say they likely have enough votes to override Quinn's veto.

The governor promised to veto the bill because it put too much of a burden on already cash-strapped consumers.

"More than 1.5 million people and businesses have had to deal with power outages and services disruptions this summer," Quinn said. "Now these same utilities are trying to change the rules to guarantee themselves annual rate increases and eliminate accountability. I will not support a bill that contains sweetheart deals for big utilities, which could leave struggling consumers to pick up the tab for costs such as lobbying fees and executive bonuses. We can ensure innovation and investment in our electric grid, and create new jobs, without compromising core safeguards for Illinois consumers."

Attorney General Madigan agrees with Quinn's decision and stance that the rate hike would negatively impact the state's residents.

"This bill would have been devastating for Illinois consumers,” Madigan said. “At a time when people are already struggling to pay their bills, the utilities want to make an end run around the regulatory process and stick consumers with huge annual rate increases for unproven technology—all so they can guarantee their profits for the next decade. That’s not a proposal I can support."

The bill is part of a $3 billion plan to help Ameren and Commonwealth Edison pay for a new Smart Grid and general infrastructure changes. The piece of legislation passed over three months ago, but Senate President John Cullerton held on to the bill as a means to avoid an automatic veto by Quinn. 

Quinn's veto was supported by AARP, Citizen Action/Illinois, The Environmental and Law Policy Center, and the Citizens Utility Board, along with several other consumer groups and small businesses.