>>> MAYOR LORI LIGHTFOOT IS URGING OLDER PEOPLE TO EXTEND A DEAL TO SUPPLY ELECTRICITY TO CHICAGO RESIDENTS.

THE HIGHLIGHT IS A 15 YEAR AGREEMENT WITH AN OPTION FOR A FIVE-YEAR EXTENSION AND AN OPTION TO MUNICIPAL LAWS AFTER FIVE YEARS .

THE INITIATIVE WOULD SUPPORT A NEW TRAINING FACILITY TO TRAIN 10,000 CHICAGOANS TO WORK IN THE CLEAN ENERGY INDUSTRY.

SOME OF THE COUNSELOR PUSHING BACK, SAYING THAT THE MAYOR IS PUSHING TOO QUICKLY.

>> YESTERDAY I HAD A BRIEFING ON THIS THAT LASTED ABOUT 20 MINUTES.

NONE OF MY QUESTIONS WERE ANSWERED.

IT WAS RUSHED.

I DON'T KNOW WHO WORKED ON THIS, OR IF ANY OF US HAD ANY INPUT ON THIS.

I KNOW THAT I DID.

THIS IS A HUGE DEAL, AND I WANT TO MAKE SURE THAT I AM VOTING ON SOMETHING THAT IS NOT PARKING METERS OR THE SKYWAY BRIDGE.

>> JOINING US NOW TO TELL US MORE ABOUT THE PROPOSED DEAL IS THE CHIEF OF POLICY.

WHY DOES THE MAYOR'S OFFICE THINK THE DEAL IS A GOOD ONE FOR CHICAGO RESIDENCE?

>> ONE IS NEIGHBORHOOD INVESTMENT, THE OTHER IS JOBS.

NEIGHBORHOOD INVESTMENT IS THE OPENING.

YOU HEARD $100 MILLION GOES TO CLIMATE PROJECTS.

WHAT DOES THAT ACTUALLY MEAN?

THAT A SHAREHOLDER DOLLARS, COMPANY PROFITS THAT NO OTHER MUNICIPALITY AROUND THE COUNTRY HAS BEEN ABLE TO SECURE THAT SCALE.

THOSE PROJECTS MEAN THAT A RESIDENT IN AUSTIN CAN TIGHTEN UP THEIR BUILDING ENVELOPE IN THEIR HOME, LOWER THEIR ENERGY COSTS AND LOWER THEIR CARBON INITIATIVE.

SO THE SOLAR INITIATIVE YOU HEARD ABOUT, THERE ARE 4000 RESIDENTS THAT CAN RECOVER FROM THOSE BENEFITS.

SO THE JOB, THE WESTSIDE TRAINING CENTER, THAT WILL PROVIDE TOWARDS THE CLEAN ENERGY ECONOMY IN THE FUTURE.

>> AS WE JUST MENTIONED, SOME CITY COUNCILMEMBERS ARE QUESTIONING WHY THE MAYOR IS PUSHING TOWARDS A QUICK VOTE ON THIS.

WHY NOT WAIT UNTIL AFTER THE ELECTION?

THERE COULD POTENTIALLY BE A NEW CITY COUNCIL AND POTENTIALLY A NEW MAYOR THAT COULD TAKE A LOOK AT IT.

>> THIS HAS NOT BEEN AN OVERNIGHT AGREEMENT.

THE CURRENT AGREEMENT EXPIRED AT THE END OF 2020.

THE MAYOR LOOKED AT OUR TEAM AND SAID, I WANT YOU TO NEGOTIATE THE BEST POSSIBLE DEAL FOR CHICAGO RESIDENTS.

THAT HAS INCLUDED DOING A PUBLIC ARCHIVE PROCESS SINCE 2021 TO DETERMINE WHETHER CON ED WAS TRULY THE MOST COMPETITIVE BETTER TO PROVIDE THE BEST QUALITY SERVICE FOR OUR RESIDENTS.

WE HAVE BEEN NEGOTIATING IN EARNEST SINCE LAST YEAR, AND THE TIMING WORKED OUT.

BECAUSE OF OUR HARD NEGOTIATIONS, THIS COMPANY HAS FINALLY COME FORWARD WITH A DEAL THAT WE CAN BE VERY PROUD OF IN TERMS OF THE BENEFITS BACK TO RESIDENTS.

>> AT THE SAME TIME, THROUGHOUT ALL THAT TIME WE KNOW THAT CON ED HAS BEEN AT THE CENTER OF A BRIBERY SCANDAL INVOLVING THE FORMER ILLINOIS HOUSE SPEAKER.

WHY A 15-YOUR DEAL WITH THE COMPANY?

WHY NOT SOMETHING SHORTER?

>> 15 YEARS IS ACTUALLY VERY SHORT IN THE WORLD OF MUNICIPAL FRANCHISES.

OUR CURRENT DEAL WITH CON ED WAS 10 YEARS AND WE DID A SCAN OF MUNICIPALITIES RUN THE COUNTRY.

THE AVERAGE DEAL IS 20 YEARS.

IN OUR REGION , WHICH INCLUDES ARLINGTON HEIGHTS, THOSE AGREEMENTS SPEND 40 TO 50 YEARS.

SO WE THINK THAT WE FOUND A GOOD BALANCE OF A MUCH SHORTER TERM AGREEMENTS BUT ALSO SEEING THE TYPE OF INVESTMENT THAT WE CAN SEE GROW WITH THINGS LIKE A WESTSIDE TRAINING CENTER.

THAT WILL TAKE SOME TIME TO GET UP AND RUNNING, BUT THEN WE CAN REALLY RAMP UP.

>> WE KNOW THAT MAYOR LIGHTFOOT DEMANDED SOME REFORMS BUT DIDN'T GET THEM.

THIS WAS OF COURSE AFTER CON ED ADMITTED TO PARTICIPATING IN THIS BRIBERY SCHEME.

DO YOU THINK THAT THIS COMPANY HAS BEEN ETHNICALLY FORTHCOMING?

>> THERE IS ZERO TOLERANCE FOR THE KIND OF CRIMINAL BEHAVIOR AND BRIBERY ACTIVITIES THAT WE SAW FROM CON ED BACK IN THE DAY.

THE LANDSCAPE HAS CHANGED VERY DRAMATICALLY.

THROUGH THE CLEAN AND EQUITABLE JOB ACT, THE COMPANY IS NEWLY REGULATED THROUGH THE ILLINOIS COMMERCE COMMISSION.

ON AN ANNUAL BASIS THEY HAVE TO SUBMIT COMPLIANCE REPORTS AROUND THEIR ETHICAL PRACTICES AS AN OPERATION.

WE BELIEVE THAT WITH THAT OVERSIGHT, COUPLED WITH WHAT IS IN PLACE, WE CAN FEEL MORE CONFIDENT ABOUT THE LEADERSHIP AND STAFFING OF THE COMPANY.

THE CITY WILL CONTINUE TO HOLD THE COMPANY ACCOUNTABLE.

THE OTHER THING THAT I WILL NOTE IS THE $200 MILLION, MOST OF OUR RESIDENTS DIDN'T ACTUALLY FEEL THE BENEFIT FROM THOSE DOLLARS.

WHEN WE LOOK AT SOMETHING LIKE OUR NEWLY-PROPOSED ENERGY AND EQUITY AGREEMENT, THAT $100 MILLION IS ACTUALLY GOING TO BE MONEY THAT RESIDENTS CAN FEEL, AND IT WILL HELP TO LOWER THEIR ENERGY COSTS.

>> SO A RECENT REPORT FOUND THAT CON ED HAD CANCELED SERVICE THROUGH OCTOBER OF 2022.

WHAT PROTECTIONS FOR CONSUMERS ARE IN THIS DEAL?

>> THAT ISSUE IS OF CONCERN TO THE MAYOR.

HE IS A FIERCE ADVOCATE OF UTILITY ACROSS THE BOARD.

I WILL NOTE THAT AS A PART OF THIS DEAL WE DO NOT HAVE THE ABILITY TO REGULATE CON ED 'S CURRENT RATES OR COMPANY-WIDE DISCONNECTION PRACTICES.

THOSE ARE ALL REGULATED BY THE ILLINOIS COMMERCE COMMISSION.

FOR MANY YEARS, THE CITY HAS STOOD SIDE BY SIDE WITH THE ATTORNEY GENERAL'S OFFICE AND THE CITIZENS UTILITY BOARD, WHO ARE FIERCE ADVOCATES FOR OUR RESIDENTS.

THIS MEANS THAT EVEN IN TIMES LIKE JANUARY, WE ALREADY SIGNED UP TO SHOW UP IN THE HEARING AND SAY, HEY.

EVERY PENNY THAT YOU REQUESTED NEEDS TO BE ABSOLUTELY NECESSARY.

WE NEED TO PROTECT FOR EXORBITANT COST INCREASES FOR OUR RESIDENTS.

>> WE HAVE A FEW SECONDS LEFT.

HOW DOES THIS ACHIEVE THE GOAL OF CREATING GREATER EQUITY AND OPPORTUNITY FOR THE CITY?

>> YEAH.

I THINK THAT SOME OF THE NEW INVESTMENTS THAT ARE ALREADY TALKED ABOUT, THE $100 MILLION TO GO TO LOCAL CLIMATE EQUITY PROJECTS, ONE THING THAT I HAVEN'T NOTICED IS THAT CON ED HAS ALSO AGREED TO SECURE $400 MILLION FROM THE STATE IN FEDERAL GRANTS, AND REALLY UNLOCK IN CREATIVE WAYS THAT WE HAVEN'T SEEN AROUND THE COUNTRY DIGITAL ACCESS.

SO THINK ABOUT THEIR DARK CYBER NETWORK AND INFRASTRUCTURE.

WE ARE ACTUALLY GOING TO BE ABLE TO TAP INTO THAT, TO CONNECT THOUSANDS OF RESIDENTS TO BROADBAND ACCESS.

SO THERE ARE SO MANY ANCILLARY BENEFITS.

ONCE OTHER PEOPLE JOIN US IN LOOKING UNDER THE HOOD, I THINK THEY WILL AGREE THAT THERE ARE SO MUCH THAT