Continuing a promising trend, six of 9 gas utilities lowered their supply rates from April to May–but Peoples Gas, the much-criticized gas utility for Chicago residents, raised their price by 21 percent, according to a CUB review of May pricing information the companies filed with the state.
The good news is that the prices are down by 43 percent to 78 percent from the price spikes of a year ago, as we move beyond two years of elevated prices. Unfortunately, major gas utilities in the state are pushing to raise another part of our gas bills, proposing $900 million in rate hikes.
From April to May of this year, prices declined for all but three utilities– Liberty Utilities, MidAmerican Energy and Peoples Gas. The price range includes a 46 percent decrease for Mt Carmel customers to a 21 percent increase for Peoples Gas customers. Nicor, the state’s largest utility, reported a 13 percent decrease from April to May.
Gas utilities file supply prices–called the Purchased Gas Adjustment (PGA)–each month with the Illinois Commerce Commission (ICC). Below are the supply prices for May 2023 and how they compare with last May’s prices.
May Gas Prices
Ameren Illinois–40.42 cents per therm (down about 43 percent from May 2022)
Consumers Gas–28.76 cents per therm (down about 71 percent from May 2022)
Illinois Gas–21.47 cents per therm (down about 78 percent from May 2022)
Liberty Utilities–69.18 cents per therm (down about 52 percent from May 2022)
MidAmerican Energy–45.59 cents per therm (down about 52 percent from May 2022)
Mt. Carmel–14.12 cents per therm (down about 72 percent from May 2022)
Nicor Gas–39 cents per therm (down about 65 percent from May 2022)
North Shore Gas–28.42 cents per therm (down about 72 percent from May 2022)
Peoples Gas–36.02 cents per therm (down about 64 percent from May 2022)
Note: Your utility is determined by where you live, so you cannot switch from one utility to another. Under Illinois law, gas utilities are not allowed to profit off supply prices—they pass those costs from gas producers and marketers onto customers with no markup. State regulators annually review the utilities’ gas-management procedures to ensure the companies did a reasonable job with their gas purchases, given market conditions, to hold down costs for consumers as much as possible.
REMINDER: The deadline to apply for LIHEAP this cycle is May 31, though applications may close early if they run out of funds. If you or a loved one might qualify, visit the DCEO’s website to learn more and apply now through your local administering agency.
For more information, tips and advice, visit the CUB Help Center.