Continuously serving Kosciusko County since 1854
MERRILLVILLE – Northern Indiana Public Service Company LLC (NIPSCO) announced Wednesday that natural gas residential customers can expect an increase in their winter heating bills this season compared to previous years.
Based on current market projections and assuming normal winter weather, bills for natural gas residential customers are estimated to be 16% higher than last winter, according to a news release from NIPSCO.
Each year, NIPSCO and other Indiana energy companies provide a forecast for home heating bills during the upcoming winter months. Projections are based on market forecasts, supply trends and storage levels, as well as normal weather forecasts. If temperatures are colder or warmer than normal, usage amounts and bills could differ.
Over the course of the upcoming five-month winter heating season, which is November through March, NIPSCO’s average natural gas residential customers using 625 therms could expect to pay approximately $665 in total over the five-month period. This compares to $575 during the previous winter and it represents about a $90 difference (16 percent) or $18 per month on average from November to March.
There are two primary components of natural gas bills – the cost of delivering natural gas to customers and the cost of natural gas itself. For the cost of natural gas itself – which is largely dependent upon market prices – NIPSCO does not control these costs.
The company passes them directly through to customers with no markup and does not profit on that portion of the bill. Natural gas commodity costs must be reviewed and approved by the IURC.
To help ensure customers receive the best price for natural gas, NIPSCO will purchase gas in the market from a variety of supply sources throughout the year. Gas storage is also used to help offset market price volatility by purchasing gas throughout the summer months and putting that gas into storage for use during the winter months. Purchasing supplies over time is expected to level out the peaks and valleys of natural gas prices and provide more price stability for NIPSCO customers. NIPSCO’s gas distribution system consists of two on-system storage facilities and connects to seven interstate pipelines providing access to major North American supply basins.
Managing costs to ensure the delivery of natural gas to homes and businesses without compromising safety, reliability and integrity is vital, and NIPSCO aims to improve its systems and implement technologies to create long-term efficiencies for the benefit of customers, the release st ates.
Customers who are experiencing financial difficulties are also encouraged to visit NIPSCO.com/Assistance or call NIPSCO’s Customer Care Center at 1-800-464-7726 as soon as possible to determine what options might be available for their situation.
For more information on billing options and payment assistance, visit NIPSCO.com/assistance.
Customers looking to quickly find information 24 hours a day, seven days a week can use NIPSCO’s Chat feature located in the bottom right-hand corner of its website (NIPSCO.com) or via the mobile app. Customers may also contact the NIPSCO Customer Care Center at 1-800-4-NIPSCO Monday-Friday, 7 a.m. to 7 p.m. CT.
