Colvin Announces Clean Energy Bill Passage
by Thelma Sardin
State Representative Marlow Colvin (D-33), House sponsor of the Chicago Clean Energy bill (Senate Bill 1533) made an important announcement at the Chatham Business Associations (CBA) monthly meeting on July 12. The representative informed the organization that Gov. Pat Quinn will sign SB 1533 into law on July 13.
The Chicago Clean Energy project is bringing a $3 billion green technology investment to Chicagos southeast side; its mission is to bring jobs & economic development, clean technology and consumer savings to Illinois.
I cant remember the last time or any time those kind of dollars were committed to one specific site on the entire Southside of Chicago, the representative said.
An alternative energy plant will be built on a Chicago-Calumet Brownfield near an industrial area along the Calumet River located at 115th and Burley.
The premises will produce alternative natural gas through a clean method of utilizing local materials such as coal. Through this process called gasification, Chicago Clean Energy will make a clean substitute natural gas product that is projected to save Illinois consumers hundreds of millions of dollars.
The initiative also boasts significant projected consumer savings for natural gas utility. Illinois residents are projected to save over a billion dollars on their gas bills. Additionally, at least $100 million in consumer savings will be guaranteed.
The projects proponents say it has several public and community benefits. It will reportedly generate over $1.25 billion in state and local taxes provide local job training and hiring programs and will be privately funded.
Illinois taxpayers are not liable for the financing, developing, construction and operating of Chicago Clean Energy, he said.
He added that the project is a privately financed operation by funded Leucadia National. Leucadia is an holding company located in New York.
Rep. Colvin said he threw his support behind the project because of the consumer protections. He said that Leucadia will establish a fund to protect ratepayers from any spikes in the cost of natural gas. The fund is sponsored annually at $60 million.
Lastly, Rep. Colvin discussed three important components of the project he called the 3 Es: energy, economy and environment. The project will secure the state and national energy supply (energy); create well-paying jobs (economy) and burn Illinois coal through a high tech process that burns cleaner than natural gas (environment).
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