Attorneys say Exelon extortion efforts don’t tell the truth about the utility’s profitability

Romanucci & Blandin, LLC and DiCello Levitt Gutzler LLC as co-lead counsel in the class action lawsuit against ComEd for the impact of its admitted bribery scheme held a press conference and provided comments about efforts by ComEd’s parent company, Exelon, to threaten Illinois lawmakers who are currently considering a bailout of the utility. Exelon claims it needs additional state funding because its nuclear plants are not profitable.

“The extortion efforts underway by Exelon in Springfield are both insulting to residents and not forthcoming of the company’s true financial position. Their claims that their nuclear plants are not profitable are patently false and we have the data to prove that. Our discovery related to the class action lawsuit has revealed a detailed corporate scheme of selling energy to subsidiaries and raising the price before selling it to consumers. We urge Illinois lawmakers and the Governor to fully inform themselves before making any decision on a bailout for the utility,” said attorney Adam Levitt of DiCello Levitt Gutzler LLC.

“ComEd’s corruption has cost consumers and businesses in Illinois far too much for far too long. And adding insult to injury, they are now not being straight about how they jack up the price of energy by trading it within their corporate entities, resulting in an ultimate sale to consumers that is twice what it cost to produce. Exelon says it is losing money growing lemon trees, but not telling you it is making a fortune selling lemonade,” said attorney Stephan Blandin of Romanucci & Blandin, LLC

Видео Attorneys say Exelon extortion efforts don’t tell the truth about the utility’s profitability канала Romanucci & Blandin, LLC