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CUB’s report on gas market volatility: March 2026

Continuing a trend of elevated heating gas prices, March supply rates for six out of 9 major Illinois utilities were higher than a year ago, including Consumers Gas (86 percent), Mt. Carmel (60 percent) and Nicor Gas (29 percent).  

Roughly eight out of 10 Illinois homes use methane gas for heat.  Each month, the utilities file their supply price, called the Purchased Gas Adjustment (PGA), with the Illinois Commerce Commission (ICC).  

For about 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).  Winter storms and cold weather that hit the nation in late January and early February pushed wholesale prices even higher. Frigid temperatures can cause 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. CUB is concerned that the war in Iran will lead to even higher prices in months to come.

Here’s where the supply rates charged by Illinois’ major utilities stand now:

  • In a bit of good news, March prices were down from February for five utilities. Illinois Gas (about 6 percent lower), Liberty Utilities (about 21 percent lower), Mid American (about 16 percent lower), Nicor Gas (about 9 percent lower), and North Shore gas (about 5 percent lower). Four charged higher prices than last month: Ameren Illinois (about 8 percent higher), Consumers Gas (about 99 percent higher), Mt. Carmel (about 56 percent higher), and Peoples Gas (about 5 percent higher).
  • Compared with March 2025, this month’s prices were higher for six of the utilities, ranging from about 3 percent higher for MidAmerican to about 86 percent higher for Consumers Gas. Three utilities charged prices that were lower than last March, ranging from about 0.07 percent lower for Peoples Gas to about 21 percent lower for North Shore Gas. Check out this month’s prices:  

March 2026 Gas Prices
Ameren Illinois 50.799 cents per therm (UP about 9 percent from March 2025)
Consumers Gas 80.534 cents per therm (UP about 86 percent from March 2025)
Illinois Gas 60.09 cents per therm (UP about 15 percent from March 2025)
Liberty Utilities 40.9 cents per therm (DOWN about 6 percent from March 2025)
MidAmerican Energy 63.27 cents per therm (UP about 3 percent from March 2025)
Mt. Carmel 89.93 cents per therm (UP about 60 percent from March 2025)
Nicor Gas 49.00 cents per therm (UP about 29 percent from March 2025)
North Shore Gas 44.55 cents per therm (DOWN about 21 percent from March 2025)
Peoples Gas 40.67 cents per therm (DOWN about 0.07 percent from March 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: