NIPSCO natural gas rates set to increase September 1

Contributed By:The 411 News

Northern Indiana Public Service Company LLC (NIPSCO) received a decision from the Indiana Utility Regulatory Commission (IURC) to adjust its natural gas rates, effective September 1, 2022. The utility will phase in the newly approved rates over a two-step process expected in September 2022 and March 2023 – with the majority of the increase occurring in September.

An average residential customer will see an expected overall increase of approximately $6 per month, or 10 percent following the two-step change – which is lower than the previously proposed increase request of 17 percent.

This change also revises the residential customer’s monthly charge to approximately $16.33, which is a reduction from the $24.50 proposed. The current customer monthly charge is $13.83.

Actual projected bill impacts for commercial and industrial customers may differ as it will depend on usage, rate type and class.

The IURC decision follows a nearly year-long, extensive review process including public input and collaborative agreement reached with the Indiana Office of Utility Consumer Counselor (OUCC) and the NIPSCO Industrial Group (IG).

The rate increase supports safe operations, infrastructure upgrades and extension of programs to help customers save energy and money.

NIPSCO expects the rate adjustments to increase revenues by $71.8 million annually. Natural gas base rates were last approved in 2018.

Story Posted:07/28/2022