By Maggie Dougherty | Capitol News Illinois
The Illinois Commerce Commission Wednesday sharply cut rate increases proposed by Nicor Gas and Ameren Illinois, slowing the speed of rising energy bills for customers in much of the state.
Instead of approving the full $314 million requested by Nicor and $129 million requested by Ameren, the ICC cut 47% and 43% from the requests, respectively.
As a result, the ICC approved a rate increase of $168 million for Nicor and $73 million for Ameren Illinois.
In a news release after the ruling in Chicago, ICC Chairman Doug Scott said the decision was made after careful review to approve only “necessary and justified” projects while striking “excess” spending.
“The ICC’s responsibility is to balance the interests of Illinois’ utilities and their customers,” Scott said in the release. “We recognize that any decision impacting Illinoisians’ bills is not a small one.”
Read more here.
These utility companies are making huge profits and driving people to the point of not being able to pay the bill. Legal theft.
2024 Ameren reported net income $1.18 billion
2024 Nicor reported net income $4.4 billion
….“necessary and justified”…..
Explain, That’s like saying Elon musk doesn’t have too much money.