Illinois residents may be bracing themselves for a rate hike from Nicor. Nicor is seeking a $208 million rate hike with the Illinois Commerce Commission.
It would be Nicor's first rate increase in nine years and would increase household's heating bills by an estimated 8 percent. The annual heating bill for an average Nicor household would increase by approximately $52, the company said.
Nicor filed its request on March 10 with the ICC. According to the published report, Nicor needs to pay for large-scale investments The company is making infrastructure improvements, replacing aging gas pipes, spending about $250 million a year.
The ICC can take up to 11 months to decide on Nicor's rate-hike request, so any increase would not be felt until the end of next winter.
94.1 WGFA