Big rate hikes, big profits:
Third-quarter profits up for energy utilities
November 13, 2009—CUB is locked in battle with several electric, natural gas, and water companies that made big profits in the third quarter.

3rd Quarter Profits (in millions)
Parent Co.
2008
2009
Increase
$204 M
$227 M
11.3%
$700 M
$757 M
8.1%
$88.2 M
$91.6 M
3.9%
-$59.1 M*
$51.1 M
--
$1.3 M
$13.6 M
946%
*Note: Integrys posted a $59.1 million loss in the 3rd quarter of 2008.
Source: Corporate statements, media reports
CUB reviewed the third-quarter profits of the parent companies of Illinois' major energy utilities. We also included background on CUB's cases connected to those companies.

Ask the Illinois Commerce Commission (ICC) to reject the rate hikes listed below by filing a public comment online (use the corresponding docket numbers, listed in parenthesis below). Or, call the ICC at 1-800-524-0795. Also, contribute to CUB's rate-hike defense fund.

Ameren (CILCO Gas, 09-0309; CILCO Electric, 09-0306; CIPS Gas, 09-0310; CIPS Electric, 09-0307; IP Gas, 09-0311; IP Electric, 09-0308): CUB has appealed last year's $162 million increase, and it's fighting a new $162 million rate-hike request. Join our "Stop Ameren" campaign!



ComEd (parent company Exelon): CUB has appealed last year's $273 million increase. ComEd is expected to file for yet another rate hike within a year.

Illinois American Water (09-0319): The company has filed for a $58.6 million increase.

Nicor Gas: CUB helped cut the company's $140 million rate-hike request in half. Nicor wasn't happy with its $69 million rate hike so it appealed and received another $11 million. The company is still not happy with that amount and has appealed for even more.

Separate from the rate case, CUB is fighting Nicor Gas for a $287 million refund, accusing the company of wrongly profiting off consumers at a time when they paid record-high heating prices earlier this decade.

Peoples Gas/North Shore Gas (parent company Integrys) (09-0167/09-0166): CUB has appealed the companies' $71 million rate hike last year and the consumer group is fighting their new $131 million rate-hike request.

Total: more than $1 billion!