Madigan questions Ameren credit rating

Madigan questions Ameren credit rating

There are 15 comments on the Register-Mail story from Mar 14, 2007, titled Madigan questions Ameren credit rating. In it, Register-Mail reports that:

Attorney General Lisa Madigan is questioning whether a decision to downgrade the Ameren Illinois utilities' credit ratings to "junk" status on Monday might have been orchestrated by Ameren and ratings agency ...

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Concerned Illinoisan

Ellicott City, MD

#1 Mar 14, 2007
Maybe Lisa should get a job. I do not think that in her current position she is paid (by me) to pass judgment on this question......
Jim

Palm Harbor, FL

#2 Mar 15, 2007
Concerned Illinoisan wrote:
Maybe Lisa should get a job. I do not think that in her current position she is paid (by me) to pass judgment on this question......
She has a job. Protecting the people of Illinois. If Ameren is doing something illegal then it certainly is her business.
lynn

AOL

#3 Mar 15, 2007
I hope Lisa Madigan does investigate this . Ameren is getting away with theft

And while she is at it, maybe get an investigation started on Emil Jones.
Find out how much money he is pocketing from Ameren to stop any rate freeze or adjustments with Ameren. Bet he is getting big bucks from them
Bob

Saint Louis, MO

#4 Mar 16, 2007
Concerned Illinoisan wrote:
Maybe Lisa should get a job. I do not think that in her current position she is paid (by me) to pass judgment on this question......
She is doing her job! Duh! At least she is standing up and holding Ameren and probably others accountible. Thank God she is not an empty skirt!
madd

AOL

#5 Mar 17, 2007
you go girl
madd

AOL

#6 Mar 17, 2007
Concerned Illinoisan wrote:
Maybe Lisa should get a job. I do not think that in her current position she is paid (by me) to pass judgment on this question......
She is doing her job we all in ILLINOIS PAY HER TO DO YOU GO GIRL
Linda

Saint Peters, MO

#7 Mar 18, 2007
It's about time someone did something about soaring electric and gas prices. Everyone in the State of Illinois is not rich. I bet the perks that Ameren's CEO receives could pay for every citizen of Illinois' electrical bill for a month or better. Who runs this state--big business or elected officials? The Assembly needs to listen to their constituents and not continue to line their pockets and accept campaign contributions for favors.
reply to all

Decatur, IL

#8 Mar 19, 2007
Well let's have Lisa investigate it all - gas prices, grocery prices,cable, and everything else that inflating - let's not just stop there - go all the way!!!!
Tom

United States

#9 Mar 21, 2007
Everything else will go up now also. Everone must pay their electricity so consequently will raise their prices. Talk about homeless people, stick around awhile and see how many bankruptcy, foreclosures, restaurant and business failures,along with crime increases. Hell we may all have to steal like Ameren just to survive.
Dick

Wentzville, MO

#10 Mar 30, 2007
Of course we need the attorney general to expose this. Ameren is jerking people around, promising, then un-promising, and now trying to cut a deal to give short-term relief to some and lessen the pressure to freeze, and then re-regulate rates. Ameren is counting on fear to be their ace in the hole. And for Senator Clayborne to say we'll end up like California is more of the same- spreading fear and nonsense: California executives were criminals, paid big fines for manipulating the market (go for it, Gen. Madigan), and California also had power shortage. AmerenIP has no power shortage. As for manipulating the markets- well, that's a matter for the attorney general.
Harold

Greenville, MI

#11 Mar 31, 2007
I hope you all realize that a rate roll back/freeze WILL NOT result in any immediate relief, if any at all. If the rates are rolled back, the first thing the power companies will do is go to federal court and get an injunction against the state to keep rates at the current levels. Since the rates are already in place and are set by current state deregulation laws, I would suspect they will be left in place for the duration of the court battle. This court battle will not end over night. It could drag on for months or years. All the while consumers will probably be paying the rates that are in place today. I'm not a lawyer and can't say what will happen, but you must remember that in a court of law, customer hardship will not come before letter of the law. The power companies have followed the deregulation laws that were put in place in 1997, and have used them to their full advantage. Are they (the power companies) greedy and only concerned about profits-of course. That's corporate america, like it or not. The bottom line is that, like it or not, some type of compromise would yield benefits much quicker than any rate roll back/freeze legislation. The other investigations that are ongoing, such as price fixing and collusion, will take time as well. Who knows where they will lead. In the end the power companies may have to roll their rates back and refund their customers lots of money, but I would bet before they do anything like that they would file for bankruptcy, wich would possibly free them from their incured debts. Then everyone would lose. Like it or not, rate freeze legislation WILL NOT provide immediate relief. Some type of compromise, with power providers and power generators footing the bill would be a much more immediate fix. If an interest free phase in is once again offered, it could be a great benefit to many customers. Go ahead and keep calling for a freeze, but just be aware that the power companies have nothing at all to lose by dragging the issue out in court for a LONG time. If they win, they will sue the state for illegal commerce obstruction and get all the costs thrown in the taxpayers lap. If they lose, they will simply file for bankruptcy and let the cards fall where they may. It's the legislators choice, you better just hope that they think about it before they act (vote).
Bradford

United States

#12 Mar 31, 2007
Let's hope parties agree on a compromise. Passing rate freeze legislation will lead to a legal court battle that the state can not win. The Illinois politicians may be able to say to their constituents that they voted for the rate freeze, but it was overturned in Federal Court. And even if the state won a rate freeze, the state would need to step in to guaranty payment for power of the Ameren IL subs and Commonwealth Edison, the utilities that it just bankrupted. The IL taxpayer would be on the hook for those costs, as well as future higher costs for running a bankrupted company. Do companies with bad credit scores pay higher rates, that need to be passed on to their customers?

And as the need for power grows in Illinois, who would ever build a plant here? And which companies would like to relocate or expand in Illinois, where the state government tries to bankrupt its utilities?
watchman

Fairview Heights, IL

#13 Sep 26, 2007
In case nobody noticed, Ameren got it's way and the people of Illinois got screwed again.
WhinePatrol

United States

#14 Oct 24, 2007
Your refund not as much as you expected? I hear over in Missouri they pay for everything for people, hitch up and make the trip.
jim

New Albany, IN

#15 Oct 29, 2007
AmerenCilco is a monopoly. I wrote the Attorney Gereral of Illinois about them and AmerenCilco rote a letter in response saying how the rate increase will help us. Well, let us see what is in the paper. AmerenCilco profits are up 76 percent and people are applying for government aid to heat their homes. I think this speaks more than the AmerenCilco canned reply and the rebate check they gave people were a joke. Write the Attorney General of Illinois and the Better Business Bureau about Amerencilco illegally creating a monopoly. If nothing else you will fell better.

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