Illinois Commerce Commission Approves Lower Rate Increase than Requested by Nicor Gas

Lawndale News Chicago's Bilingual Newspaper - Business

Lawndale News Chicago's Bilingual Newspaper - Business

The Illinois Commerce Commission (ICC) issued an order approving approximately $137.1 million in additional revenue for Northern Illinois Gas Company’s (Nicor Gas), which figure is about 38 percent less than the $208.5 million the company requested. This is the first general rate increase for Nicor Gas customers since 2008. This order results in a 20.96 percent rate increase, compared with the 32.91 percent rate increase the company originally requested. As a result of today’s action, a residential customer would pay approximately $2 more per month, but the impact on an individual customer’s bill will vary depending on the type of customer and amount of energy consumed. The new rates are expected to take effect on February 8, 2018. Nicor requested the general increase to comply with new state and federal pipeline safety regulations and requirements; to modernize its facilities; to provide the job training needed for new employees to replace an aging workforce ready to retire; as well as to recover increases in the cost of providing gas service over the past decade.

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