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If you have been downtown lately, you have noticed many roads ripped up with Peoples Gas trucks nearby.

This is part of what was a $4.5 Billion dollar pipeline replacement that has grown to $8.0 Billion.

Why is this relevant?

Peoples Gas was sold to Wisconsin based WEC group prior to the disclosure of this 100% cost overrun. DO you think Peoples was sold to WEC Group to continue a $4.5 Billion dollar project or a $8.0 Billion dollar project? The difference would generate about $350,000,000 (350 Million) each year in revenue for the next 25 years.  

Again, Peoples Gas is a regulated monopoly. It has no competition to supply natural gas. So, it paid a fine of $18 million to receive $3.5 Billion more to spend.

Let’s see that’s less than 1% penalty.

Surely Peoples will learn their lesson not to withhold information from the regulators when they receive such a stiff penalty as that!

Realgy Energy Services is a registered Retail Energy Marketer in the states of Illinois, Michigan and Indiana. We offer Service Plans that will provide electric and natural gas at wholesale pricing direct to customers without any utility markup. Our Service Plans work with the local utility to provide seamless service and annual energy savings. Service Plans include Guaranteed SavingsTM, ManagedPriceTM, ManagedGreenTM Index, Fixed and PriceAssuranceTM.

Additional Information:

http://www.chicagobusiness.com/article/20160510/NEWS11/160519980/peoples-gas-madigan-settle-claims-of-misleading-regulators-for-18-5