Heating bills in Chicago are going way up, both next month and also next year if Peoples Gas has its way.
The Chicago natural gas utility announced today that its charge for the gas commodity in March is soaring 79 percent to 93 cents per therm from 52 cents in February. The steep increase is a result of the extreme cold weather that has boosted the near-term cost of natural gas and the price to transport the fuel, the company said.
At the same time, Peoples filed with state regulators for a delivery rate hike that would take effect in the middle of next winter. That $129 million increase, if the Illinois Commerce Commission granted it in full, would bring the average Chicago household's monthly gas bill to nearly $100.