A major utility company plans on sending $38million in refunds to customers following an eight-year bribery investigation.

Commonwealth Edison, commonly known as ComEd, serves more than 4million customers in northern Illinois, according to the company.

ComEd proposed the $38million refund, and the plan was approved by the Illinois Commerce Commission (ICC) on Wednesday.

From that amount, $31million will be directly refunded to customers as restitution for expenses related to ComEd's past illegal conduct.

Another $7million will be set aside for customers through a "federal regulatory process," according to the ICC.

However, despite the eye-popping topline number, ComEd customers are likely to receive little relief.

According to ChicagoBusiness, the average household can expect a $4.80 rebate that will be applied to their April 2023 bill.

ComEd engaged in a nearly decade-long influence scheme to bribe people close to Michael Madigan, the former Illinois Speaker of the House.

According to the US Department of Justice, the company admitted to offering jobs and payments to people close to the former speaker.

ComEd paid $200million to settle the federal investigation in 2020.

The DOJ agreed to drop the charges by 2023 if ComEd continued to cooperate and abide by the law, according to a deferred prosecution agreement.

ComEd's refund proposal represents a further attempt to rebuild its reputation and improve its conduct.

Some consumer advocates were critical of the plan, saying it doesn't go far enough.

Abe Scarr, director of the non-partisan consumer rights group Illinois PIRG Education Fund, released a statement critiquing the refund.

“While $38 million is welcome relief for ComEd customers, it’s chump change compared to the more than $6 billion in additional revenue ComEd has earned since the outside of its bribery scheme,” Mr Scarr said, according to NBC 5 Chicago.

Governor JB Pritzker revealed that Illinoisans will receive at least $50 as part of a statewide income tax rebate.

Joint tax filers will receive $100 and families with three dependents can get up to $300.

The cash is part of the Illinois Family Relief Plan, which was approved in April.

Payments will start going out in the week of September 12.

The state is also sending a rebate to homeowners who earned less than $250,000, or $500,000 for couples.

Homeowners can get an amount equal to the property tax credit they qualified for in 2021, up to $300.

In addition to the direct payments to taxpayers, the state announced temporary freezes on taxes in the following shopping categories:

Another leading electric provider in Illinois is offering rebates to military members and veterans.

And The Sun compiled a list of every state that offers energy assistance.

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