Tuesday, February 23, 2016

NIPSCO Electric Increase to be Smaller Than Originally Planned

nipsco-logoNIPSCO’s electric rate increase is moving ahead, but prices won’t be going up as much as originally planned. The company has reached an agreement with the Indiana Office of Utility Consumer Counselor, its industrial customers, and other groups.
As part of that agreement, residential customers will see a base rate increase of 5.4 percent, rather than the 11 percent NIPSCO originally requested. The fixed monthly customer charge will rise from $11 to $14, instead of $20.
According to a NIPSCO press release, the increase for commercial and industrial customers will depend on usage patterns. The company says that on average, rates for commercial and smaller industrial customers will increase less than originally planned.
Indiana Utility Consumer Counselor David Stippler says because of the agreement, NIPSCO’s revenue increase will be over 40 percent less than it would have been under the original proposal. NIPSCO says a rate hike is needed to cover increased maintenance and operating costs, as well as infrastructure upgrades.
The agreement still needs the approval of the Indiana Utility Regulatory Commission. If it’s approved, the new rates are expected to take effect during the second half of this year.
For more information, visit NIPSCO.com/rates.

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