Peoples Gas cutting every customer's November gas bill by $56

Peoples Gas said it will be cutting every customer's November gas bill by $56.

The utility company said the money for the bill credits comes from a settlement reached with the Illinois Commerce Commission in April over costs related to pipeline construction and replacement, and Uncollectable Expense Adjustment riders from 2019 through 2023.

People Gas said each customer's bill will be credited exactly $56.18. The total savings will be reflected through reductions on two lines on bills, with about half of the total credit on each line.

Customers will also receive two future bill credits, Peoples said: a credit of about $42 in 2027 and another $2 credit in 2028, though which month's bill will see those credits was not announced.

The utility said that through the same settlement agreement, it is also lowering rates by removing $10 million in infrastructure costs over the next few years.

Customers should see the credit automatically applied to their November natural gas bill, Peoples said. 

Peoples Gas is still proposing a $144 milion rate hike to pay for their lead pipe replacement project. Consumer advocates have been urging the ICC to reject the hike.