(WBBM NEWSRADIO) -- Natural gas consumers in the city and suburbs are bracing for rulings Thursday on proposed rate increases.
The Illinois Commerce Commission (ICC) will rule tomorrow on rate hike requests from People’s Gas, Nicor, North Shore Gas and Ameren Illinois. Together, the four companies are requesting nearly $900 million in rate increases.
Jim Chilsen of the Citizens Utility Board said Nicor has had $500 million in rate hikes since 2018 and is asking for a $320 million increase.
“Nicor’s rate hike would be a company record rate hike. It would impact customer bills by about $9 month and, if Nicor says that’s not a big deal, then they’re totally out of touch with their customers,” he said.
Nicor said a rate increase is needed in order to run its business and meet current and future demands, including replacing outdated pipelines.
CUB acknowledges natural gas companies need to modernize their pipeline systems.
“Gas companies definitely need to maintain their system, but they shouldn’t do it in a way that bankrupts their customers," Chilsen said.
Chilsen said Nicor is shooting for a more than 10% profit increase.
“We’re hoping that the ICC holds Nicor accountable and tells Nicor you can’t treat your customers like an ATM.”
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