IL HB3038

Amends the Public Utilities Act to restrict electric utilities with more than 100,000 customers from purchasing receivables at prices higher than those obtained through the Illinois Power Agency's power procurement process under Section 16-111.5.

Limits utility purchases of receivables to amounts equal to or less than the price obtained for consumers in the Illinois Power Agency procurement process, with any associated costs recovered from participating alternative retail electric suppliers.

Applies pricing restrictions to receivables for both collectable power and energy service (subsection c) and uncollectible receivables (subsection e) when customers return to utility service after using alternative retail electric suppliers.

Requires that uncollectible receivables purchased by utilities cannot exceed the price obtained through the Illinois Power Agency procurement process, preventing utilities from recovering amounts above that threshold from customers.

Takes effect immediately upon becoming law.