February gas prices showed worrisome signs that winter storms and frigid temperatures across the nation were beginning to have an impact on the price we pay for heating fuel: Supply rates for several utilities jumped by more than 25 percent from a year ago, topped by Nicor Gas, with a 68.8 percent increase in its gas price from last February. CUB is concerned that prices will soar even higher in the months ahead.
Each month, the utilities file their supply price, called the Purchased Gas Adjustment (PGA), with the Illinois Commerce Commission (ICC). In its review of prices in February, CUB found that five utilities—-Illinois Gas, Liberty Utilities, MidAmerican Energy, Mt. Carmel and Nicor–revised their initial tariff filings to increase their February supply price by a range of 29 to 58 percent.
Roughly eight out of 10 Illinois homes use methane gas for heat. For close to a year, gas prices have been elevated because of a number of factors that have increased demand and tightened supply, including cold weather and increased liquified gas exports (meaning profit-hungry gas producers and marketers are sending the heating fuel outside the United States). The winter storms and Arctic blast that hit the nation in late January and early February pushed prices even higher–they soared by more than 120 percent, hitting a three-year high at one point in late January. Frigid weather causes supply constraints when gas freezes at the wellhead. It also increases demand for heating fuel, forcing utilities to draw down their reserves more quickly and buy gas on a volatile market.
The sudden jump in prices for several utilities in February points to market factors that could push prices even higher in the volatile gas market throughout 2026. Here’s where the prices stand now:
- Compared with January, five of Illinois’ 9 major utilities are charging lower prices. Ameren Illinois (about 2.8 percent lower), Consumers Gas (about 4.4 percent lower), Mt. Carmel (about 6.5 percent lower), North Shore Gas (about 12.2 percent lower), and Peoples Gas (about 7.2 percent lower). Four charged prices that are higher: Illinois Gas (about 9.9 percent higher), Liberty Utilities (about 44.9 percent), MidAmerican (about 17.3 percent), and Nicor (about 28.6 percent).
- Compared with February 2025, this month’s prices were higher for six of the utilities, ranging from about 1.4 percent higher for Ameren Illinois to about 68.8 percent higher for Nicor Gas. Three utilities charged prices that were lower than last February, ranging from about 0.3 percent lower for Peoples Gas to about 17.2 percent lower for Consumers Gas. See February prices below.
February 2026 Gas Prices
Ameren Illinois– 46.99 cents per therm (UP about 1.4 percent from February 2025)
Consumers Gas– 40.48 cents per therm (DOWN about 17.2 percent from February 2025)
Illinois Gas– 63.86 cents per therm (UP about 25.8 percent from February 2025)
Liberty Utilities– 51.6 cents per therm (UP about 65 percent from February 2025)
MidAmerican Energy– 75.51 cents per therm (UP about 36.6 percent from February 2025)
Mt. Carmel– 57.52 cents per therm (UP about 14.5 percent from February 2025)
Nicor Gas– 54.00 cents per therm (UP about 68.8 percent from February 2025)
North Shore Gas– 46.76 cents per therm (DOWN about 5.7 percent from February 2025)
Peoples Gas– 38.81 cents per therm (DOWN about 0.3 percent from February 2025)
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 evaluate whether the companies did a reasonable job with their gas purchases, given market conditions, to hold down costs for consumers as much as possible. Regulators can order refunds, although that is rare.
A few tips from CUB:
- Keep the lines of communication open with your utility. If you are having trouble affording your gas bills, it is vital that you contact your utility. Ask if you can set up a plan that gives you more time to pay off your bills, and inquire about no or low-cost energy efficiency programs the company offers.
- Ask if your utility offers a discount program for qualifying customers. Ameren, Nicor, North Shore and Peoples Gas do.
- See if you qualify for energy assistance. To apply or learn more about the Low Income Home Energy Assistance Program (LIHEAP), visit this state of Illinois webpage. (Also, check out our Step by step guide to applying for LIHEAP.)
- Practice energy efficiency. For tips and information about helpful energy efficiency programs, visit CUB’s Clean Energy page.
- Beware of alternative supplier rip-offs. If a deal seems too good to be true, there’s a good chance it is. If the utility’s gas price increases, remember that it’s due to market factors that also will increase alternative supplier prices. As volatile as gas utility prices are, your best bet for gas supply is likely with your utility and not with an alternative supplier. Read our tips. (Note: Only consumers in Northern Illinois have gas choice.)
- More helpful resources:
- CUB’s Gas page
- CUB’s chart of historical gas prices. Plus, CUB’s gas-price reports from 2026: January and 2025: January, February, March, April, May, June, July, August, September, October, November, and December.
- If you want to consider moving away from gas, visit our electrification page and order CUB’s free Better Heat Guide to learn how to make the transition to more efficient appliances, such as electric heat pumps and induction stove tops.
