Nicor Gas to Pass Savings of $43.6 Million to Customers
NAPERVILLE, Ill. – May 2, 2018 – The Illinois Commerce Commission (ICC) has approved a reduction of Nicor Gas’ distribution rates totaling $43.6 million, effective in early May 2018. The reduction stems from the Tax Cuts and Jobs Act of 2017, which lowered Nicor Gas’ annual tax expense – a savings that will directly benefit Nicor Gas’ 2.2 million natural gas customers in Illinois.
“Every customer deserves reliable energy at a price they can afford,” said Melvin D. Williams, president of Nicor Gas. “The benefits of the new tax law will lower tax expense for the company, and we are pleased to share that benefit with our customers.”
Nicor Gas filed the rate reduction with the ICC to recognize the benefits of the federal tax reform law, including the lowering of the federal corporate income tax rate from 35 percent to 21 percent. The $43.6 million decrease will translate into a monthly reduction in rates of $1.73 for the typical residential customer of Nicor Gas. This savings ensures that Nicor Gas remains one of the lowest cost providers of natural gas to customers in Illinois.
For more information, visit nicorgas.com/rates-and-costs.
About Nicor Gas
Nicor Gas is one of seven natural gas distribution companies of Southern Company Gas, a wholly owned subsidiary of Southern Company (NYSE: SO). Nicor Gas serves more than 2.2 million customers in a service territory that encompasses most of the northern third of Illinois, excluding the city of Chicago. For more information, visit www.nicorgas.com.
About Southern Company Gas
Southern Company Gas is a wholly owned subsidiary of Atlanta-based Southern Company (NYSE:SO), America’s premier energy company. Southern Company Gas serves approximately 4.6 million natural gas utility customers through its regulated distribution companies in seven states and more than 1 million retail customers through its companies that market natural gas and related home services. Other non-utility businesses include investments in interstate pipelines, asset management for natural gas wholesale customers and ownership and operation of natural gas storage facilities. For more information, visit Southern Company Gas at www.southerncompanygas.com.
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Media Contact:
Jennifer Golz
o: 630.388.3737 | c: 331.222.9716 | jgolz@southernco.com
