Peoples Gas pipeline program will cost another $12.8 billion to complete, report says, socking Chicago customers with 7% annual rate increases through 2040
Working Lunch Tuesday, October 29, 2024 | | |
| | | | | It's lunchtime, Chicago. As the Illinois Commerce Commission nears a decision on the fate of the paused Peoples Gas pipeline replacement program following a yearlong review, a study released Tuesday for the Citizens Utility Board warns that completing the work
would cost another $12.8 billion — topping recently revised utility projections by more than $5 billion. Peoples Gas would need to impose record-breaking 7% annual rate increases over the next 15 years to cover that cost, effectively doubling delivery charges for its customers by 2040. Meanwhile, nurses at University of Illinois Hospital & Clinics have voted to authorize what could be their second strike since August — as they continue to ask for better pay, staffing and security. Read that story and more in today's Working Lunch. Get news alerts | Top business stories | Real estate | | | | Peoples Gas refuted many of the report’s findings, including the remaining cost. | | | | | A strike date has not yet been set, nor has it been decided how long a strike might last. | | | The Teamsters allege the sudden closure violates the workers’ collective bargaining agreement with PepsiCo as well as the Worker Adjustment and Retraining Notification Act, which requires 60 days’ advance notice of certain mass layoffs and plant closures. | | | | | Scott will be replaced for the time being by Angela Hurlock, current chairperson of the board, as CHA searches for her replacement. | | | | | Built in 1910, the house has 4½ bathrooms, three gas fireplaces and an updated front porch. | | | |
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