Peoples Gas wants to raise rates next year to fund upgrades, cover inflation

CHICAGO (WLS) -- Peoples Gas wants to raise rates starting next year.

Peoples Gas filed a new request with the Illinois Commerce Commission.

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It points to a mandate by the ICC directing the company to retire more than one thousand miles of old iron pipes.

The company says the hike would cost the average customer between $10 and $11 a month. That would start in 2027. coming just a few years after another major rate hike was approved in 2023 for $300 million.

It would go to fund pipe replacements, infrastructure upgrades and cover inflation, Peoples Gas said.

The company says the work will improve safety and prepare for cleaner energy.

The rate hike must be approved by the Illinois Commerce Commission.

Nicor rates also recently went up, as did ComEd's.

"The big reason electricity prices are up, supply prices. It's because of increased energy demand caused by data centers," said Jim Chilsen, with the Citizens Utility Board.