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Nicor Inc. has added a news release to its Investor Relations website. Title: Nicor Announces Results of Rate Case Rehearing before the Illinois Commerce Commission
Date: 10/8/2009 5:39:00 PM
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NAPERVILLE, Ill.--(BUSINESS WIRE)--Oct. 8, 2009--
Nicor Inc. (NYSE:GAS) announced today that the Illinois Commerce
Commission (ICC) issued its decision on rehearing in the rate case of
the company�s gas distribution company, Nicor Gas. The decision will
result in an annual base rate revenue increase of approximately $11
million and reflects a rate of return on rate base of 8.09 percent
beginning in October 2009. The increase will add about $0.29 to an
average monthly residential customer bill. Even under these new rates,
Nicor Gas will continue to have the lowest rates of any major natural
gas utility in Illinois.
The ICC had granted a request by Nicor Gas for a rehearing concerning
the capital structure contained in their March 25, 2009 rate order. This
ICC decision on rehearing was the culmination of a 5-month regulatory
review process and represents an increase to the base rates established
in the March rate order. The changes in rates as a result of rehearing
will be effective prospectively.
Commercial and industrial customers in varying rate classes will also
experience modest increases depending on their gas use and service
options.
Nicor Inc. (NYSE: GAS) is a holding company and is a member of the
Standard & Poor�s 500 Index. Its primary business is Nicor Gas, one of
the nation�s largest natural gas distribution companies. Nicor owns
Tropical Shipping, a containerized shipping business serving the
Caribbean region and the Bahamas. In addition, the company owns and has
an equity interest in several energy-related businesses. For more
information, visit the Nicor Web site at www.nicor.com.
Caution Concerning Forward-Looking Statements
This document includes certain forward-looking statements about the
expectations of Nicor and its subsidiaries and affiliates. Although
Nicor believes these statements are based on reasonable assumptions,
actual results may vary materially from stated expectations. Such
forward-looking statements may be identified by the use of
forward-looking words or phrases such as "anticipate," "believe,"
"expect," "intend," "may," "planned," "potential," "should," "will,"
"would," "project," "estimate," "ultimate," or similar phrases. Actual
results may differ materially from those indicated in the company's
forward-looking statements due to the direct or indirect effects of
legal contingencies (including litigation) and the resolution of those
issues, including the effects of an ICC review, and undue reliance
should not be placed on such statements.
Other factors that could cause materially different results include, but
are not limited to, weather conditions; natural disasters; natural gas
and other fuel prices; fair value accounting adjustments; inventory
valuation; health care costs; insurance costs or recoveries; legal
costs; borrowing needs; interest rates; credit conditions; economic and
market conditions; accidents, leaks, equipment failures, service
interruptions, environmental pollution, and other operating risks;
tourism and construction in the Bahamas and Caribbean region; energy
conservation; legislative and regulatory actions; tax rulings or audit
results; asset sales; significant unplanned capital needs; future
mercury-related charges or credits; changes in accounting principles,
interpretations, methods, judgments or estimates; performance of major
customers, transporters, suppliers and contractors; labor relations; and
acts of terrorism.
Readers are cautioned not to place undue reliance on these
forward-looking statements, which speak only as of the date of this
release. Nicor undertakes no obligation to publicly release any revision
to these forward-looking statements to reflect events or circumstances
after the date of this release.
Source: Nicor Inc.
Nicor Inc.Contact: Kary Brunner, re: N-1017630 388-2529Media
Contact: Annette Martinez630 388-2781
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