06 Feb You’ll pay more for gas, electric in Chicago with expected Peoples Gas, ComEd hikes
The utilities are planning big capital spending that threatens to eat up any savings from current low energy prices.
Chicagoans would see much higher utility bills if expected rate hikes for electricity and natural gas are approved even though energy production prices are now low.
ComEd and Peoples Gas are planning significant capital spending that threatens to eat up any savings that might have come from low energy prices.
“There will be a significant effect on customers’ bills,” says Jeff Orcutt, president of the consulting firm Chapman Energy Strategies, which analyzes utilities for the Illinois Public Interest Research Group.
David Kolata, executive director of the Citizens Utility Board, another private, not-for-profit watchdog group, says there’s “no question” ComEd’s latest spending projections will boost customers’ bills. And he says an expected Peoples Gas rate hike could create an “impending crisis” for low-income consumers.