During a series of virtual briefings Monday, Council members were told the administration has actually reached "two companion agreements" with Commonwealth Edison.
New West Side Clean Energy Training Hub and $3.2 million investment for Chicago Builds, a Chicago Public Schools construction training program. A slide from the presentation described even more benefits of the two agreements, such as creating a "third-party non-profit board" to administer the energy and equity funds and a new advisory panel to shape the program and oversee progress.
ComEd likewise did not confirm a deal, issuing a statement that the utility "remains closely engaged with the City of Chicago to arrive at an agreement that will expand on our century-long partnership to support and spur a reliable and equitable transition to a clean energy future for all of Chicago’s communities."
"We are poised to see significant changes in environmental protection, sustainability and the demand on our electric grid. Knowing that there’s so much change to happen over such a short period of time, Council is in favor of a shorter agreement," he said. Far North Side Ald. Maria Hadden said she needs to see the fine print — not simply the broad outlines — to determine if the proposed agreement includes enough concessions for Chicago ratepayers.
"We often don’t feel like we have a lot of control or input. Some kind of balance of power is really what I’ll be looking for. Utility companies are big and powerful, so it’s difficult for us as consumers to feel like we have a real voice. But figuring out some way in this franchise agreement to have those checks and balances — including the corruption piece and what are the ethics reforms — is something that I’ll be looking for," she said.
Lightfoot had asked a consultant to study the feasibility of a municipal takeover of Chicago’s electric service. The final report is expected to be released in August. That resulted in a "deferred prosecution agreement" requiring the utility to pay a $200 million fine and cooperate with the continuing investigation.