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Article: ICC Grants Nicor $28 Million Rate Hike, CUB Argues Company Doesn't Deserve Increase and Will Appeal Decision.
- Article from:
- PR Newswire
- Article date:
- September 21, 2005
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CHICAGO, Sept. 21 /PRNewswire/ -- The Illinois Commerce Commission (ICC) has granted Nicor Gas a $28 million rate hike at a time when its customers already are paying record-high natural gas rates, according to the Citizens Utility Board (CUB), which will appeal the decision.
The ICC's order, announced on Tuesday, would take effect in November. Although the increase is a third of Nicor's original request for a $78 million rate hike, CUB's experts planned to file a petition for rehearing immediately because it argues that the company, which is the subject of state and federal fraud probes, did not deserve any rate hike.
"The rate hike is significantly ...