SOUTHERN CO GAS
Southern Company Gas filed an 8-K reporting that the Illinois Commerce Commission approved a Stipulation and Settlement for its Nicor Gas subsidiary's general base rate case on October 15, 2026. The settlement provides for an approximately $82 million annual base rate revenue increase effective November 16, 2026, with a 9.48% return on equity and 50.00% equity ratio. Nicor Gas also agreed to dismiss its pending appeal of the November 2025 unfavorable rate case decision once the order becomes final.
- Illinois Commerce Commission approved the Stipulation and Settlement for Nicor Gas's general base rate case on October 15, 2026.
- Annual base rate revenues will increase by approximately $82 million, effective November 16, 2026.
- The approved settlement provides for a return on equity of 9.48% and an equity ratio of 50.00%.
- Nicor Gas will dismiss its pending appeal of the November 19, 2025 base rate case decision once the order becomes final.
- The order is subject to rehearing requests within 30 days of service on any party to the proceeding.
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The $82M rate increase locks in revenue certainty for Nicor Gas and resolves a contested rate case that included an appeal of a prior unfavorable decision.
Regulated utilities depend on rate case outcomes for revenue certainty. The 9.48% ROE is within the typical range for gas utilities, and the $82M increase provides a clear revenue uplift for Nicor Gas's Illinois operations.
Any party may request rehearing within 30 days, which could delay or alter the settlement terms. The settlement also requires Nicor Gas to dismiss its appeal of the prior unfavorable November 2025 rate case decision.
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