Illinois utilities have filed their August gas prices with the Illinois Commerce Commission (ICC) and they’re fairly consistent with what we saw in July.
Seven utilities reported a slight increase from last month, at most roughly a 22% increase in price for Consumers Gas.
We’re relieved that the supply rates for all utilities are significantly lower than they were during the price spike a year ago. But with extreme heat hitting the nation, the consumer advocates at CUB wonder: When will the next spike hit? (Extended hot weather leads to higher demand for electricity, and that can lead to higher demand for gas to operate power plants. Higher demand leads to higher prices. We’ll see what happens.)
While the changes aren’t dramatic in August, the volatility of the market requires us to monitor prices each month. The expense of gas is one reason we are urging Illinois to begin planning now for the long transition away from gas–check out CUB’s Better Heat guide to learn more about this transition, and the growing federal and state incentives available to help consumers do that.
Gas utilities file supply prices–called the Purchased Gas Adjustment (PGA)–each month with the ICC. Below are the supply prices for August 2023 and how they compare with last August’s prices.
August Gas Prices
Ameren Illinois–42.20 cents per therm (down about 51 percent from August 2022)
Consumers Gas–46.33 cents per therm (down about 53 percent from August 2022)
Illinois Gas–18.96 cents per therm (down about 70 percent from August 2022)
Liberty Utilities–89.04 cents per therm (down about 25 percent from August 2022)
MidAmerican Energy–48.73 cents per therm (down about 54 percent from August 2022)
Mt. Carmel–26.31 cents per therm (down about 71 percent from August 2022)
Nicor Gas–40 cents per therm (down about 68 percent from August 2022)
North Shore Gas–33.71 cents per therm (down about 65 percent from August 2022)
Peoples Gas–29.77 cents per therm (down about 74 percent from August 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.
For more information, tips and advice, visit CUB’s Help Center.
