Latest news with #CUB
The Hindu
a day ago
- Business
- The Hindu
City Union Bank gets Digital Payments Award
City Union Bank (CUB) MD and CEO N. Kamakodi received the Digital Payments Award from Union Finance Minister Nirmala Sitharaman at an event held in New Delhi. The Department of Financial Services, Ministry of Finance, organised the 'Digital Payments Awards to acknowledge the innovative and exemplary works undertaken by banks and fintechs in the promotion of digital payments. City Union Bank was selected as one of the winners for overall digital payment performance during the financial year 2024-25.
The Hindu
2 days ago
- Business
- The Hindu
CUB reaches out to small traders in Tier III, IV towns
City Union Bank (CUB), in association with City Credit, launched a new programme to reach out to the economically weaker sections of the society, such as small traders, street vendors, mini kiosks and others, especially located in Tier III and IV towns. Named as 'Micro LAP' (Micro Loan Against Property), the programme was formally launched here on Wednesday by the bank's executive director Vijay Anandh. Expressing delight at the product's maiden launch in Andhra Pradesh, Mr. Anandh said that it would cover small traders and less salaried people not under the Income Tax bracket. Ravi Kondeti, chief executive officer of City Credit, which serves as the outreach arm taking care of the promotion, marketing, clearance and collection activities, explained the need to create awareness among the prospective customers living in remote villages and towns not covered by the banking sector. 'This comes under priority sector lending, as it includes mortgage loans and home loans in the ₹10-₹50 lakh segment,' he added.
Yahoo
04-06-2025
- Business
- Yahoo
CUB asks Ameren to work with customers this summer amid utility price hike
PEORIA, Ill. (WMBD) — The Citizens Utility Board is asking Ameren Illinois to work with customers amid utility increases. Ameren Illinois customers will be facing a 50% power increase, prompting the group to request that the utility work with those who may struggle to pay the increased bill, according to Jim Chilsen, a CUB spokesman. 'This will be a difficult summer for far too many customers,' said CUB Executive Director Sarah Moskowitz. 'In this expensive summer, we urge Ameren to do everything possible to work with customers so they can stay connected and keep their homes safe and cool.' She has requested from Ameren that they offer 'customer-friendly payment plans' which allow customers longer periods to pay off their debt, Chilsen said. The increase is estimated to raise customers' bills by about $38 to $46 each month. This summer, the increase is credited to the rise in cost for reserve power, Chilsen said. According to CUB's website, reserve power, also called 'capacity,' prices have risen because of 'poor policies' from regional power grid operators such as PJM Interconnection in ComEd territory and MISO in Ameren territory. CUB has released the following tips to help customers 'get through expensive utilities' this summer: Use energy efficiency to soften the blow of the price spike. Simple actions can help, such as weatherizing windows and doors and turning off unnecessary lights. Don't take risks that keep your home too hot. Efficiency is about eliminating waste but staying safe and cool this summer. Stay in contact with your utility. Consumers who are struggling should contact Ameren to inquire about payment plans and learn about energy efficiency programs. Consider programs to help ease costs. Ameren's Peak Time Rewards program gives customers the opportunity to earn bill credits by reducing electricity usage during high-demand periods, typically summer afternoons. Also, Illinois' community solar program offers customers the benefits of solar power without having to install panels on their homes. All offers currently guarantee savings compared to Ameren's supply price. CUB's resource, can help you carefully shop for offers. Beware of rip-offs. Since 2015, Illinois consumers have lost about $1.8 billion to alternative electricity suppliers. These suppliers are impacted by the same market conditions that are causing utility prices to increase, so it's likely, even in this expensive market, that Ameren is your best bet. One exception: If your community has negotiated a power deal with a supplier, it's possible the price is lower than Ameren's supply rate. Confirm the price and find out when the offer expires. More tips can be found on CUB's website. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
04-06-2025
- Business
- Yahoo
AMID 45% INCREASE IN COM ED'S POWER PRICE, CUB CALLS ON UTILITY TO WORK WITH CUSTOMERS TO KEEP THEM SAFE, COOL, CONNECTED THIS SUMMER
CHICAGO, June 4, 2025 /PRNewswire/ -- With Commonwealth Edison customers facing a 45 percent increase in the price of power, the Citizens Utility Board (CUB) on Wednesday called on Illinois' largest electric utility to work with people struggling to afford their bills this summer so they can keep their electricity on and protect themselves from dangerous heat. "This will be a difficult summer for far too many customers, and we urge ComEd to do everything possible to work with people so they stay safe, cool and connected this summer," CUB Executive Director Sarah Moskowitz said. She called for ComEd to offer consumer-friendly payment plans that give customers a longer time to pay off their debt. ComEd's summer "price to compare"— the rate customers should compare with alternative supplier offers—is: 10.028 cents per kilowatt-hour (kWh) from June through September. Note: This rate includes the supply price and a transmission charge. The increase impacts the supply section, which makes up about a half to two-thirds of ComEd bills. ComEd does not profit off supply—they pass those costs onto customers with no markup. A new, non-summer supply rate, which has yet to be announced, will take effect Oct. 1. The price of electricity is expected to be elevated at least through next May. ComEd has estimated the increase will cost customers an average of 10 to 15 percent, or $10.60 more per month, over the next year. The spike is connected to an increase in the price for reserve power, also called "capacity." CUB argues that capacity costs have skyrocketed largely because of policy problems with the power grid operator for northern Illinois, PJM Interconnection, which runs an auction that determines the price of capacity. CUB has tips to help Illinois consumers get through the expensive summer at including: Use energy efficiency to soften the blow of the price spike. Simple actions can help, such as weatherizing windows and doors and turning off unnecessary lights. Don't take risks that keep your home too hot–efficiency is about eliminating waste but staying safe and cool this summer. Stay in contact with your utility. Consumers who are struggling should contact their utilities to inquire about payment plans and learn about energy efficiency programs. Consider programs to help ease costs. ComEd's Peak Time Savings program gives customers the opportunity to earn bill credits by reducing electricity usage during high-demand periods, typically summer afternoons. Also, Illinois' community solar program offers customers the benefits of solar power without having to install panels on their homes. All offers currently guarantee savings compared to ComEd's supply price. CUB's resource, can help you carefully shop for offers. Beware of rip-offs. Since 2015, Illinois consumers have lost about $1.8 billion to alternative electricity suppliers. These suppliers are impacted by the same market conditions that are causing utility prices to increase, so it's likely, even in this expensive market, that ComEd is your best bet. One exception: If your community has negotiated a power deal with a supplier, it's possible the price is lower than ComEd's supply rate. Confirm the price and find out when the offer expires. While the price spike is bad news, the Climate and Equitable Jobs Act (CEJA) is providing some relief. Illinois' landmark energy law requires a line item on ComEd bills called the Carbon Free Energy Resource Adjustment (CFERA) to subsidize energy generated by nuclear power plants in Illinois. But consumer advocates pushed for a provision that changes the charge to a credit when energy prices go above a certain level. The credit can change each month, but it's expected to be on bills for the next year. In June it's a 1.7 cents per kWh credit. For more than 40 years the Citizens Utility Board (CUB) has been Illinois' leading nonprofit utility watchdog group. Created by the Illinois Legislature, CUB opened its doors in 1984 to represent the interests of residential and small-business utility customers. Since then, CUB has helped save consumers more than $20 billion by blocking rate hikes and securing refunds. For more information, call CUB's Consumer Hotline, at 1-800-669-5556, or visit CUB's website, View original content to download multimedia: SOURCE Citizens Utility Board Sign in to access your portfolio
Yahoo
29-05-2025
- Entertainment
- Yahoo
Milan's La Scala theatre fires usher who shouted 'Free Palestine' at gala event
MILAN (Reuters) -Milan's famed La Scala opera house has fired one of its ushers after she shouted a pro-Palestinian slogan at a gala event attended by Prime Minister Giorgia Meloni earlier this month, two trade unions said on Thursday. The woman shouted "Free Palestine" as Meloni was taking her seat in the Royal Box at a May 4 concert in honour of the Asian Development Bank meeting in Milan, the theatre's trade unions said. Contacted by Reuters, La Scala had no immediate comment. "In the dismissal order, signed by superintendent Fortunato Ortombina, it is emphasized that she betrayed trust by disobeying service orders, but we believe that she listened to her conscience," the CUB union said in a statement. "We will deploy all trade union actions to defend this brave girl who has our utmost solidarity," CUB added. Italy's government has been a vocal supporter of Israel, but its foreign minister said on Wednesday Israel's continued assault on the Gaza Strip had become unacceptable and had to stop immediately. Israel launched its campaign on the Palestinian enclave in response to the devastating Hamas attack in southern Israel on Oct 7, 2023, that killed some 1,200 people and saw 251 taken hostage into Gaza, according to Israeli tallies. The campaign has killed more than 54,000 Palestinians, Gaza health officials say, and left the enclave in ruins. In Italy, opposition parties are planning a rally on June 7 calling for an end to the war in Gaza, while unions at La Scala have asked for a banner to be put up before performances on June 6 and 11 saying "Ceasefire, stop the massacres".
