New NIPSCO Natural Gas Rates To Take Effect Sept. 1
July 27, 2022 at 9:51 p.m.
New NIPSCO Natural Gas Rates To Take Effect Sept. 1
By Staff Report-
The utility will phase in the newly approved rates over a two-step process expected in September and March with the majority of the increase occurring in September, according to a news release from NIPSCO.
“Customers expect service that is dependable and rates at the lowest cost possible,” said Mike Hooper, NIPSCO’s president and chief operating officer. “This balanced outcome demonstrates a positive path toward continued investments in essential resources that will support safe operations, upgrading aging infrastructure and enhancing our customers’ experience.”
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 release states.
An average residential customer will see an expected overall increase of approximately $6 per month, or 10% following the two-step change – which is lower than the previously proposed increase request of 17%. This change also revises the customer charge to approximately $16.33, which is a reduction from the $24.50 proposed, according to the release.
Actual projected bill impacts for commercial and industrial customers may differ as it will depend on usage, rate type and class.
NIPSCO’s natural gas base rates were most recently approved in 2018. Since that time, NIPSCO investments include approximately $885 million in system upgrades, technology improvements and pipeline safety and reliability initiatives to be completed through the end of 2022, with plans for future, continued investments.
Bill payment assistance programs, including support for vulnerable customers, as well as energy savings programs, continue to be available. Learn more at NIPSCO.com/save and NIPSCO.com/assistance.
The total overall expected change represents an increase of $71.8 million annually. Learn more about NIPSCO’s rates at NIPSCO.com/2022gasrates.
The utility will phase in the newly approved rates over a two-step process expected in September and March with the majority of the increase occurring in September, according to a news release from NIPSCO.
“Customers expect service that is dependable and rates at the lowest cost possible,” said Mike Hooper, NIPSCO’s president and chief operating officer. “This balanced outcome demonstrates a positive path toward continued investments in essential resources that will support safe operations, upgrading aging infrastructure and enhancing our customers’ experience.”
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 release states.
An average residential customer will see an expected overall increase of approximately $6 per month, or 10% following the two-step change – which is lower than the previously proposed increase request of 17%. This change also revises the customer charge to approximately $16.33, which is a reduction from the $24.50 proposed, according to the release.
Actual projected bill impacts for commercial and industrial customers may differ as it will depend on usage, rate type and class.
NIPSCO’s natural gas base rates were most recently approved in 2018. Since that time, NIPSCO investments include approximately $885 million in system upgrades, technology improvements and pipeline safety and reliability initiatives to be completed through the end of 2022, with plans for future, continued investments.
Bill payment assistance programs, including support for vulnerable customers, as well as energy savings programs, continue to be available. Learn more at NIPSCO.com/save and NIPSCO.com/assistance.
The total overall expected change represents an increase of $71.8 million annually. Learn more about NIPSCO’s rates at NIPSCO.com/2022gasrates.
Have a news tip? Email [email protected] or Call/Text 360-922-3092