Little relief in sight for gas bills • February 11, 2001 Chicago-area heating bills next month will barely budge from February's stratospheric levels despite a significant drop in the market price of natural gas since last month. Peoples Energy Corp., which serves the city and northern suburbs, will charge customers nearly 90 cents per therm for gas used this month, down from 98 cents in January, when prices spiked more than 50% over December levels. Naperville-based Nicor Inc., which serves the rest of suburban Chicago, is charging 93 cents per therm this month, down from 95 cents in January.

Meanwhile, the average price for gas delivered to the Chicago market in February is just 65 cents per therm. Says a Nicor spokesman: "Just because a certain month's figures are down doesn't mean we bought the gas when these prices were down. We had to buy gas ahead of time."

A Peoples spokesman said the February price partly reflects past undercharges, and was based on cost projections made in late January.

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-- Martin Thompson (mthom1927@aol.com), February 11, 2001