Steve Grzanich has the business news of the day with the Wintrust Business Minute.

ComEd will ask state regulators for a delivery rate hike of $1.47 billion over four years. The proposed increase would take effect in 2024. According to a Crain’s analysis, the rate hike would increase the average electric bill by about $4.25 a year. That works out to a nearly 18% increase over the four-year period. The average bill now is $93. In 2024 alone, ComEd’s proposed $894 million delivery rate hike would be the biggest increase the utility has ever sought. The company says the increase is necessary to keep the electric grid reliable and resilient in northern Illinois as severe weather events become more common due to climate change.  

Also, Advocate Health Care is planning a new outpatient center in Lincoln Park. Listen below for more: