AG Madigan: Former People’s Gas Execs Violated State Law
via Crain’s
“The chief executives of Peoples Gas and previous parent Integrys Energy Group violated state law last year when they “knowingly misled and withheld material information” from state utility regulators on soaring costs in the utility’s program to replace 2,000 miles of aging gas mains in Chicago, according to Illinois Attorney General Lisa Madigan.
Prior to appearing before the Illinois Commerce Commission May 20 to discuss the massive infrastructure project, former Integrys CEO Charles Schrock and former Peoples President John Kleczynski had been briefed in multiple meetings on how the estimated cost to complete the massive infrastructure project by 2030 had soared past $8 billion from what had been $4.6 billion. Yet they repeatedly told regulators they had no updated cost figure. That’s according to testimony filed in December by new Peoples Gas parent WEC Energy Group, based in Milwaukee.
The commission is investigating whether it should under state law impose fines on company executives for knowingly misrepresenting material facts before the ICC.”
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