Synopsis As Introduced Amends the Public Utilities Act. Provides that a participating gas utility may elect to recover its natural gas utility service costs through a formula rate approved by the Illinois Commerce Commission. Provides that the Commission shall have the authority to conduct hearings concerning the prudence and reasonableness of the service costs incurred by the utility to be recovered. Provides that a gas public utility may apply for a certificate of public convenience and necessity to increase its gas service territory and extend its gas distribution system to serve a designated hardship area. Provides that the Illinois Commerce Commission shall, after notice and hearing, grant a certificate of public convenience and necessity if, based upon the application filed with the Commission and the evidentiary record, the Commission finds that specified criteria are satisfied. Provides that the Commission shall issue its decision with findings of fact and conclusions of law granting or denying the application no later than 120 days after the application is filed. Defines terms. Effective immediately.