Illinois regulators reduced Nicor’s rate increase ask by about half Wednesday.

The utility company requested a $314.3 million rate increase, but regulators cut $146.5 million from it, the Illinois Commerce Commission said in a news release.

The company had also requested a 10.35% return on equity, a way to measure returns to stakeholders. The ICC approved a 9.6% return on equity.

“The ICC’s responsibility is to balance the interests of Illinois’ utilities and their consumers. We recognize that any decision impacting Illinoisans’ bills is not a small one, and after careful review of Nicor’s proposed investments, the Commission opted to strike excess charges and approve necessary and justified projects,” ICC Chairman Doug Scott said in the release.

Nicor was also directed to maintain a 3

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