| |||||||||||||||||||||||||||||||||||
| |||||||||||||||||||||||||||||||||||
| |||||||||||||||||||||||||||||||||||
| |||||||||||||||||||||||||||||||||||
| |||||||||||||||||||||||||||||||||||
1 | AN ACT concerning regulation.
| ||||||||||||||||||||||||||||||||||
2 | Be it enacted by the People of the State of Illinois,
| ||||||||||||||||||||||||||||||||||
3 | represented in the General Assembly:
| ||||||||||||||||||||||||||||||||||
4 | Section 5. The Public Utilities Act is amended by adding | ||||||||||||||||||||||||||||||||||
5 | Article XXIII as follows:
| ||||||||||||||||||||||||||||||||||
6 | (220 ILCS 5/Art. XXIII heading new) | ||||||||||||||||||||||||||||||||||
7 | ARTICLE XXIII. | ||||||||||||||||||||||||||||||||||
8 | ELECTRIC GENERATION DIVESTITURE LAW | ||||||||||||||||||||||||||||||||||
9 | (220 ILCS 5/23-101 new) | ||||||||||||||||||||||||||||||||||
10 | Sec. 23-101. Short title. This Article may be cited as the | ||||||||||||||||||||||||||||||||||
11 | Electric Generation Divestiture Law.
| ||||||||||||||||||||||||||||||||||
12 | (220 ILCS 5/23-105 new) | ||||||||||||||||||||||||||||||||||
13 | Sec. 23-105. Legislative findings. The General Assembly | ||||||||||||||||||||||||||||||||||
14 | finds it necessary to ensure the integrity, reliability, and | ||||||||||||||||||||||||||||||||||
15 | affordability of electricity in Illinois. The General Assembly | ||||||||||||||||||||||||||||||||||
16 | finds it to be uncompetitive for an entity owning multiple | ||||||||||||||||||||||||||||||||||
17 | electrical generating facilities to have an ownership stake in | ||||||||||||||||||||||||||||||||||
18 | an electric utility serving more than 3,000,000 retail | ||||||||||||||||||||||||||||||||||
19 | customers. Therefore, the General Assembly finds that | ||||||||||||||||||||||||||||||||||
20 | divestiture of these interests would provide a significant | ||||||||||||||||||||||||||||||||||
21 | public benefit.
|
| |||||||
| |||||||
1 | (220 ILCS 5/23-110 new) | ||||||
2 | Sec. 23-110. Definitions. The definitions set forth in | ||||||
3 | Article XVI of the Public Utilities Act apply to this Article | ||||||
4 | XXIII as though fully set forth herein. Additionally, the term | ||||||
5 | "affiliated interests" means: | ||||||
6 | (1) every corporation and person owning or holding, | ||||||
7 | directly or indirectly, 10% or more of the voting capital | ||||||
8 | stock of such public utility; | ||||||
9 | (2) every corporation and person in any chain of | ||||||
10 | successive ownership of 10% or more of voting capital stock; | ||||||
11 | (3) every corporation, 10% or more of whose voting capital | ||||||
12 | stock is owned by any person or corporation owning 10% or more | ||||||
13 | of the voting capital stock of such public utility, or by any | ||||||
14 | person or corporation in any such chain of successive | ||||||
15 | ownership of 10% or more of voting capital stock; | ||||||
16 | (4) every corporation, 10% or more of whose voting | ||||||
17 | securities is owned, directly or indirectly by such public | ||||||
18 | utility; | ||||||
19 | (5) every person who is an elective officer or director of | ||||||
20 | such public utility or of any corporation in any chain of | ||||||
21 | successive ownership of 10% or more of voting capital stock; | ||||||
22 | (6) every corporation which has one or more elective | ||||||
23 | officers or one or more directors in common with such public | ||||||
24 | utility; | ||||||
25 | (7) every corporation or person which the Commission may |
| |||||||
| |||||||
1 | determine as a matter of fact after investigation and hearing | ||||||
2 | is actually exercising any substantial influence over the | ||||||
3 | policies and actions of such public utility even though such | ||||||
4 | influence is not based upon stock holding, stockholders, | ||||||
5 | directors or officers to the extent specified in this Section; | ||||||
6 | or | ||||||
7 | (8) every person or corporation who or which the | ||||||
8 | Commission may determine as a matter of fact after | ||||||
9 | investigation and hearing is actually exercising such | ||||||
10 | substantial influence over the policies and actions of such | ||||||
11 | public utility in conjunction with one or more other | ||||||
12 | corporations or persons with which or whom they are related by | ||||||
13 | ownership or blood relationship or by action in concert that | ||||||
14 | together they are affiliated with such public utility within | ||||||
15 | the meaning of this Section even though no one of them alone is | ||||||
16 | so affiliated.
| ||||||
17 | (220 ILCS 5/23-115 new) | ||||||
18 | Sec. 23-115. Divestiture. | ||||||
19 | (a) An entity owning multiple electrical generating | ||||||
20 | facilities with affiliated interests with an electric utility | ||||||
21 | serving more than 3,000,000 retail customers must relinquish | ||||||
22 | its ownership interest in the electric utility by January 1, | ||||||
23 | 2022. | ||||||
24 | (b) An entity that fails to divest its affiliated | ||||||
25 | interests with an electric utility serving more than 3,000,000 |
| |||||||
| |||||||
1 | retail customers by January 1, 2022 shall be ineligible to | ||||||
2 | recover through tariffed charges all of the costs associated | ||||||
3 | with the purchase of zero emissions credits from zero emission | ||||||
4 | facilities pursuant to subsection (k) Section 16-108. These | ||||||
5 | costs shall be recovered from profits, returns, or shareholder | ||||||
6 | funds. | ||||||
7 | (c)This Act does not impair the obligations of any zero | ||||||
8 | emission credit procurement contract entered into pursuant to | ||||||
9 | subsection (d-5) of Section 1-75 of the Illinois Power Agency | ||||||
10 | Act.
| ||||||
11 | (220 ILCS 5/23-120 new) | ||||||
12 | Sec. 23-120. Primacy of Article. This Article supersedes | ||||||
13 | all other Acts or parts of Acts to the extent that those Acts | ||||||
14 | or parts of Acts are inconsistent with the terms or operation | ||||||
15 | of this Article.
| ||||||
16 | Section 99. Effective date. This Act takes effect upon | ||||||
17 | becoming law.
|