IL SB3586

Caps the annual estimated average net increase for renewable energy resource costs at 4.25% of the amount paid per kilowatthour by eligible retail customers during the year ending May 31, 2009, removing existing inflation adjustment provisions.

Reduces the energy transition assistance charge cap from 1.45% to 1.3% of the amount paid per kilowatthour by eligible retail customers during the year ending May 31, 2009.

Eliminates inflation adjustments for both the renewable energy cost cap and the energy transition assistance charge, freezing rate limits at 2009 baseline levels.

Amends the Illinois Power Agency Act (20 ILCS 3855/1-75) and the Public Utilities Act (220 ILCS 5/16-108.30).

Takes effect immediately upon becoming law.