Peoples Gas requests higher increase in rates
People’s Gas has requested to raise rates for customers almost 30 percent more than originally proposed in July of this year. That’s according to an updated filing with the Illinois Commerce Commission (ICC).
Initially the company stated they needed $78 million to cover additional costs related to improved safety initiatives, changes to Chicago Department of Transportation regulations, and a new pipeline construction program in Chicago.
After reevaluation, the natural gas utility determined the amount needed would actually be $102.7 million total for investments.
Peoples Gas spokeswoman Jennifer Block confirmed that last month they submitted a an amended rate increase request.
Block issued this statement:
“If approved the total proposed rate increase requested would be around $8.40 per month for Peoples Gas residential heating customers, and around $5 per month for average North Shore Gas residential heating customers.”
According to a press release issued by the company July 31, the initial proposed rate increase would be just under $6.50 a month for typical Peoples Gas residential heating customers, and less than $4 a month for typical North Shore Gas residential heating customers.
The ICC has until June to approve the increase. If approved, customers wouldn’t see changes to their bills until the end of next year.