(WBBM NEWSRADIO) - Millions in the Chicago area are paying the highest rates for natural gas in about a decade, and prices may be going up next year.
Nicor Gas has filed for the largest rate increase ever -$321 million- and Peoples Gas and North Shore Gas may be about to do the same thing.
The Nicor increase would add about $9 to monthly bills for most in the suburbs, if approved by the Illinois Commerce Commission. This, after a $240 million rate hike two years ago, the previous high.
Peoples has not had a rate hike since 2014.
Customers have been paying extra for a $300 million-a-year pipeline replacement program.
David Kolata, executive director of the Citizens Utility Board, tells Crains, “It’s a gut punch to consumers, and it couldn’t come at a worse time,” executive director of the Citizens Utility Board (CUB) David Kolata told Crains regarding the Nicor request.
Nicor Gas released a statement.
“Nicor Gas realizes the impact any rate increase can have on customers and does not make this request lightly; however, this rate increase is necessary to run our business due to inflation and rising global impacts that continue to affect our operating and maintenance costs,” the company wrote in an email.
We can expect news on Peoples Gas and North Shore Gas in the coming days.
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