Nov
05

Heating Bills for New Homes in Chicago Will Rise This Winter

November 05, 2012

new homes in chicago heating costsLast winter in Chicago may have been unseasonably mild, but it doesn’t look as if we’ll get that lucky again. If this winter brings back ‘typical’ cold weather, local heating bills will increase by 12 to 18 percent.

This means that the average five-month heating bill for Chicago homeowners in the city and northern suburbs would increase from $633 to $655.  The city and northern suburbs are served by Peoples Gas, while the rest of the suburbs are served by Nicor Gas. For homeowners served by Nicor Gas, rates could increase up to 18 percent. The average total for a five-month heating bill from Nicor was only $147 last year. Now bills are expected to average around $492.

Peoples Gas is also considering a $78 million rate hike that would add up to $6.50 per month to the average heating bill. The hike won’t take effect until after next summer, since state regulators have until June to rule on the price increase.

Will your new homes in Chicago be affected by the rise in heating prices?

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