CONSUMER ADVOCATES URGE STATE REGULATORS TO HOLD THE LINE ON GAS UTILITIES, FOLLOWING REPORT SHOWING HEATING BILLS COULD REACH CATASTROPHIC NEW HIGHS
CHICAGO, May 6, 2024 /PRNewswire/ -- The crisis of spiraling heating costs already afflicting Illinois gas customers will reach catastrophic levels over the next decade if state policymakers don't curb rampant spending by utilities, according to a study released Monday by the Building Decarbonization Coalition (BDC).
- The residual bill for that dormant infrastructure – known as a "stranded asset" – could top $80 billion, representing a grave risk for taxpayers, the report concludes.
- This report shows that regulators must continue to apply that strict scrutiny to gas utilities statewide to avert the catastrophic fallout projected in the study."
- Created by the Illinois Legislature, CUB opened its doors in 1984 to represent the interests of residential and small-business utility customers.
- Since then, CUB has saved consumers more than $20 billion by helping to block rate hikes and secure refunds.