WEBVTT

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>>> ILLINOIS UTILITIES  WANT TO 

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CHARGE CUSTOMERS MORE FOR  

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DELIVERING NATURAL GAS AND  

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ELECTRICITY. WE  LOOK AT WHAT  

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IS DRIVING THE REQUEST AND WHAT 

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IT COULD MEAN FOR YOUR BILLS.  

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IT MAY GO HIGHER .  

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>> NATURAL GAS TO ELECTRIC ,  

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THE SUBURBS , CHICAGO, 

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DOWNSTATE,  CONSUMER COSTS WILL 

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GO UP IF UTILITIES GET THEIR  

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WAY.  

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>> BETWEEN  EVERY MAJOR GAS AND 

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UTILITY IN BELITTLING IS FILING 

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 FOR A RATE INCREASE.   

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>> WHAT IS BEHIND THE INCREASE 

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IS  DEPENDING ON WHO YOU TALK 

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TO, THE COMPANY HAS THEIR   

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REASONS BUT OTHERS HAVE OTHER  

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THEORIES, PART OF IT  IS  

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CHANGING STATE REGULATION.  IT  

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IS IMPORTANT TO UNDERSTAND THE  

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REGULATIONS. UTILITIES  CANNOT  

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SET THEIR OWN PRICES.  THEY ARE 

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VIRTUAL MONOPOLIES  SO THEY  

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HAVE TO MAKE THEIR CASE TO 

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STATE REGULATORS AND THE  

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ILLINOIS COMMERCE COMMISSION   

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WHO DECIDES HOW MUCH THEY CAN  

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CHARGE. 

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>>  HOW MANY COMPANIES ARE  

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LOOKING TO CHARGE?  

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>> INCREASES THAT WILL 

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EVENTUALLY  LEAD TO  

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DOUBLE-DIGIT ADS  ON CONSUMER 

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BILLS.   

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>>  THIS IS THE LARGEST GAS   

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UTILITY IN THE STATE WHO SERVES 

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MOST OF NORTHERN ILLINOIS AND  

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CHICAGO ARE ASKING FOR A  $320  

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MILLION INCREASE , THAT IS 

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ABOUT $12 PER MONTH FOR THE  

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AVERAGE CUSTOMER OR OVER $111  

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PER YEAR.  THAT IS ON TOP OF  

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THREE GREAT HIKES  IN JUST FOUR 

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YEARS.  THAT WOULD BE  THE  

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BIGGEST RATE INCREASE IN 

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HISTORY.  IT WAS ONE OUT BY  

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PEOPLE'S GAS  LATER .  

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>> THEY ARE REQUESTING A $402  

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MILLION RATE INCREASE WHICH IS  

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ABOUT $12 INCREASING PER MONTH. 

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 BOTH COMPANIES  HAVE  -- NICOR 

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 SAYS OR REALIZES THE IMPACT   

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THE INCREASE COULD HAVE ON  

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CUSTOMERS AND DOES NOT MAKE THE 

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REQUEST LIGHTLY, BUT THE RATE 

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INCREASE  IS NECESSARY TO RUN  

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THE BUSINESS  BECAUSE OF  

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INFLATION, RISING GLOBAL  

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IMPACTS THAT ARE AFFECTING OUR  

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OPERATING AND MAINTENANCE 

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COSTS.  PEOPLE'S GAS IS 

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FOCUSING ON LIABILITY AND SAYS  

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THAT THE  PEOPLE  WILL HAVE  

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SAFE, RELIABLE , AND  

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ENVIRONMENTALLY FRIENDLY   

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ENERGY THEY DEPEND UPON,   

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ESPECIALLY WHEN TEMPERATURES  

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DROPPED TO ZERO AND BELOW. IN A 

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STATEMENT , PEOPLE'S   

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DOWNPLAYED THE EFFECTS  IT WILL 

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HAVE ON CUSTOMERS, SAYING  IT  

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IS NOT EXPECTED TO LEAD TO A  

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HIGHER BILL.  YOU MAY WONDER ,  

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HOW COULD THAT BE?  THEY SAY IT 

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IS BECAUSE  THE PRICE OF  

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NATURAL GAS IS FORECAST  TO GO 

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DOWN.  WITH THIS INCREASE  ON  

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THE DELIVERY SIDE OF NATURAL 

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GAS ,  PRICING WILL STAY FLAT.  

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 WE ARE NOT TALKING  ABOUT THE  

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PRICE OF GAS AND ELECTRICITY 

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ITSELF, ALL THESE COMPANIES   

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CHARGE AND MAKE MONEY BY 

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DELIVERING  THE ENERGY . THESE  

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CHARGES HAVE TO DO  WITH THE  

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COST OF DISTRIBUTION AND 

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INFRASTRUCTURE , TRANSMISSION 

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LINES.  THEY SAY CONSUMERS 

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SHOULD BE AWARE.   

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>> THIS PAST YEAR , WE SAW A  

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SIGNIFICANT INCREASE IN  

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ELECTRICITY AND GAS.  CONSUMERS 

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HAVE FELT THAT IN THEIR BILLS.  

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 THOSE MAY GO DOWN , THEY DO GO 

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UP AND DOWN.  THEY ARE GLOBAL  

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COMMODITIES AND THEIR  IS A LOT 

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TO THE PRICES. WE DO NOTE  THAT 

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THE DELIVERY SIDE OF YOUR BILL  

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,  THEY WILL GO UP  

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SIGNIFICANTLY, WHEN THE PRICE  

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OF GAS SPIKES AGAIN , IT  

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INEVITABLY WILL , OR THE  

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ELECTRICITY PRICE  GOES UP, WE 

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WILL BE HIT HARDER  BECAUSE YOU 

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HAVE ALREADY INCREASED ONE SIDE 

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OF YOUR BILL .   

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>> Reporter:  THE COMMENT 

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REQUEST  OF $1.5 BILLION   

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SPREAD OVER FOUR YEARS , THAT  

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WOULD AMOUNT TO $4.25 MORE PER  

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MONTH ANNUALLY .  IN 2024,  

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CONSUMERS WILL LOOK AT A $17 

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PER MONTH INCREASE FOR JUST THE 

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DELIVERY OF ELECTRICITY . THE  

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COMPANY IS ALSO DOWNPLAYING 

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THAT , SAYING THAT THE AVERAGE  

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RESIDENTIAL BILL WOULD BE LESS  

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THAN IT HAS BEEN IN OTHER  

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STATES. THE CEO SAYS, THIS  IS  

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NECESSARY TO DELIVER  POWER   

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CUSTOMERS DEPEND ON.  BATTERY 

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STORAGE  AND ADVANCED  AN  

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ENERGY FUTURE THEY SAY  THE  

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UTILITY BOARD IS SKEPTICAL AS  

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THE DIRECTOR SAYS MAKING  

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STRATEGICALLY SMART GRID  

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IMPROVEMENTS CAN IMPROVE  MONEY 

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IN THE LONG RUN, BUT THAT  

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SHOULD NOT  MEAN THEY GET AN  

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EXCESSIVE PROFIT RATE.  THEY  

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WILL DO A THOROUGH REVIEW  BUT  

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NOT IMMEDIATELY CLEAR IF THE  

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UTILITY GIANTS  WANT A PROFIT  

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RATE FOR SHAREHOLDERS.  THEY  

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WILL SCRUTINIZE AND CHALLENGE  

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WHAT IT SAYS IS EVERY PENNY THE 

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COMPANY CAN JUSTIFY.  THEY SAY  

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,  IN MARCH,  SOME OF THE  

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FORMER TOP PONCHOS  WILL GO ON 

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TRIAL  FOR THEIR ROLE  IN A  

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BRIBERY SCHEME CONNECTED TO A 

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FORMER  ILLINOIS HOUSE SPEAKER, 

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MICHAEL MADIGAN . THEY HAVE  

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PLEADED NOT GUILTY  BUT THE  

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CORPORATION ADMITTED TO THE 

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SCHEME.  THEY SAID INCLUDED IN  

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THE PAST IS A PROFIT INCREASE  

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OF OVER 10% , THEY CALL IT A  

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HEAD SCRATCHING THAT COMMENT   

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IS IN POSITION TO RAISE RATES  

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HIGHER THAN BEFORE AND MAKING  

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AN EVEN  BIGGER PROFIT.   

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>>  IT IS CRAZY THAT THEY ARE 

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POSITIONED  TO DO SO WELL GIVEN 

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THEIR BEHAVIOR IN THE LAST 

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DECADE .  

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>> HE SAYS  COMED  IS POISED TO 

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MAKE OUT LIKE BANDITS.  THE  

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FORMER SPEAKER MICHAEL MADIGAN  

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USED THAT PHRASE TO DESCRIBE  

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HOW WELL HIS ASSOCIATES WERE 

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DOING  AFTER HE HAD ALLEGEDLY  

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ARRANGED TO HOOK THEM UP WITH 

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LUCRATIVE  JOBS AND CONTRACTS 

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WITH  COMED.  THEY SAY THE  

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ELECTRIC GRID DOES NEED TO BE 

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MAINTAINED.  OUR CUSTOMERS 

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GETTING ENOUGH BENEFIT FOR THE 

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COST?  HE SAYS THE GAS PROGRAM  

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HAS BEEN OUT OF CONTROL AND HAS 

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NOT  -- HE SUPPORTS  THE ENERGY 

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TRANSITION  FOR ELECTRIFICATION 

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, HE SAYS ALL OF THE INVESTMENT 

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DOES NOT HAVE TO BE MADE NOW,  

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NOT LIKE EVERYONE  WILL HAVE AN 

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ELECTRIC CAR WITHIN THE NEXT  

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FEW YEARS.  IT WILL BE A WHILE