Northern Indiana Public Service Company LLC (NIPSCO) received a decision from the Indiana Utility Regulatory Commission (IURC) to adjust its natural gas rates, effective Sept. 1, 2022.
The utility, which has been Indiana’s lowest cost natural gas provider on average over the last ten years, will phase in the newly approved rates over a two-step process expected in Sept. 2022 and March 2023 – with the majority of the increase occurring in Sept.*
“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).
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 customer charge to approximately $16.33, which is a reduction from the $24.50 proposed.
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.