ICC RULINGS REDUCE RECORD RATE-HIKE PROPOSALS; HALT CONTROVERSIAL PIPE-REPLACEMENT PROGRAM, AS REGULATORS DRAW LINE ON UTILITY EXCESS
CHICAGO, Nov. 17, 2023 /PRNewswire/ -- In a sweeping rebuff of four different utilities, Illinois regulators have sharply curtailed record rate hikes proposed for more than 4 million gas customers across the state, while also blocking most spending on a controversial pipe-replacement program that has fueled a heating affordability crisis for consumers in recent years.
- In each of the cases, the ICC's reduction to the rate hike exceeded the amount – sometimes by large margins – recommended by the agency's administrative law judges.
- In all, the rate increases were lowered by about $240 million as a result of the ICC's actions.
- "We're hopeful that this ruling sends a signal to the state's utilities that the days of business-as-usual are coming to an end."
- Created by the Illinois Legislature, CUB opened its doors in 1984 to represent the interests of residential and small-business utility customers.