Illinois Commerce Commission Orders Electric and Gas Rate Reductions
Residents of Illinois should soon start paying less for their electricity and natural gas. The Illinois Commerce Commission, which regulates public utilities, has ordered 22 companies to reduce their rates or show why they shouldn't have to.
Illinois Attorney General Lisa Madigan says the reason is simple, the amount they charge customers includes federal taxes, and the new tax bill dropped corporate rates from 35 to 21 percent.
In one of the two cases, Nicor Gas wants to raise rates by $130 million. But Madigan says the request should be reduced by $37 million, or about 28 percent. She wants to make sure utilities serving Illinois drop their rates, and pass the savings on to customers, as soon as possible.