Nicor Ordered To Refund $72M In Fuel Incentive Scandal

Law360, New York (June 6, 2013, 2:17 PM EDT) -- An Illinois state regulator ordered Nicor Gas Co. on Wednesday to refund its customers $72 million to resolve a long-running dispute over its alleged attempts to game a performance-based fuel purchasing incentive program, though a utility watchdog says Nicor actually owes up to $300 million.

The final bill announced by the Illinois Commerce Commission on Wednesday is $8 million higher than the company initially agreed to pay in February 2012 to resolve claims it misled regulators and pocketed savings from a program meant to incentivize the...
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