The Illinois Commerce Commission slashed a proposed $314 million rate hike by suburban gas company Nicor by nearly half Wednesday.

Nicor had asked to sharply raise rates by $314 million for infrastructure upgrades and “affordable decarbonization that includes both gas and electric solutions” for its more than 2 million customers across much of the suburban Chicago area.

But after state utility staffers recommended cutting the hike by a third, the ICC found Nicor’s ask was extreme and approved the hike for $168 million, reducing the proposed increase by 47%.

“The ICC’s responsibility is to balance the interests of Illinois’ utilities and their consumers,” ICC Chairman Doug Scott said in a news release. “We recognize that any decision impacting Illinoisans’ bills is not a small one, and a

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