ICC rules Nicor Gas must pay $72M settlement
THE ASSOCIATED PRESS June 5, 2013 1:56PM
Updated: June 5, 2013 1:56PM
The Illinois Commerce Commission has ruled Nicor Gas must refund customers more than $72 million in a more than decade-old accounting scandal.
The figure is $9 million more than Nicor Gas agreed to pay in February 2012 to settle the issue. Crain’s Chicago Business reports a spokeswoman for Nicor said the company would consider appealing the extra $9 million the commission added Wednesday. The extra money comes after the Citizens Utility Board and Illinois Attorney General Lisa Madigan continued fighting the case.
A Nicor spokeswoman said Wednesday the commission ruling affirmed “no improper conduct by Nicor Gas.” Nicor is a subsidiary of Atlanta-based AGL Resources Inc.
The Citizens Utility Board says Nicor overcharged residential customers by $300 million in a gas-pricing plan called performance-based regulation.