Excelon Corp (EXC)

[flatlander_60048]

ICC Decision
For Some Reason Yahoo will not allow me to post. So I'll post here.

Today's Chicago trib indicated that Com Ed received unanimous ICC approval to delay the roll out of smart meters until 2015. Starting in Jan 2013 Com Ed will begin collecting the grid modernization surcharge equivalent to about $1.48 per average bill of $82.

I guess that even the ICC realized it was unfair to remove $2.6 billion of upfront grid modernization money and still expect EXC to proceed with the modernization effort on schedule. The delay will let EXC accrue funds to proceed with the modernization effort.

I wonder to what extent the dividend cut cut posturing by EXC has helped convince the ICC to change direction. Either way, the EXC div just got a little safer.

FL