ComEd Gets Approval For $239 Million Rate Hike

(CBS) -- Commonwealth Edison customers will see their electric bill go up in 2015.

Illinois utility regulators approved a $239 million rate hike for ComED. The power-delivery rate hike takes effect in January and it will help finance a grid modernization program.

It's expected to add at least $2.50 to the average monthly bill for homeowners.

The Citizens Utility Board released a statement saying that it is, "...disappointed in these increases, especially as they will hit consumers in the heart of what could be another expensive winter. Illinois' new way of setting electric rates—by formula— limits how much consumer advocates and regulators can reduce proposed increases."