Commonwealth Edison is seeking an electricity rate hike of about 7 percent, a move quickly met with skepticism from consumer advocates.

ComEd’s proposal, filed Wednesday with the Illinois Commerce Commission would add less than $6 per month to the average residential monthly bill of $86, the company said in a statement. Any approved new rates would not take effect until June 2011. The utility said it would use the money to modernize its grid by investing in technology that reduces the duration and number of power outages. The rate hike would also “recover the cost of substantial investments made since the last rate filing in 2007,” the company said. Get the full story »