Monday, April 23, 2018 10:08 am
Verbatim: Agreement Reached In NIPSCO's Proposal To Modify Natural Gas Rates
Provides for continued service improvements; Lower rate increase than requested
The following was released on Monday, April 23, 2018 by NIPSCO:
MERRILLVILLE, Ind. - Northern Indiana Public Service Company (NIPSCO) natural gas customers will see a lower rate increase than originally proposed in the company's pending regulatory rate review, as a result of a collaborative agreement reached with the Indiana Office of Utility Consumer Counselor (OUCC), industrial customers and the NIPSCO Gas Supplier Group.
The proposed agreement is subject to Indiana Utility Regulatory Commission
"This is a great outcome for our customers, our communities and the company as we continue to focus on increasing value and service across each of those areas," said NIPSCO President Violet Sistovaris. "It also provides a platform for continued investments in public safety and other programs to better serve customers now and into the future."
What to expect on a customer's bill
Based on the settlement, if approved as filed, an average residential customer would see an overall increase of approximately $8 per month instead of $10 as in the original proposal.
Included within the overall bill change will be an increase in the fixed monthly customer charge from $11 to $14, which is also lower than what was originally proposed.
New rates will also include the lower tax rate from federal tax reform.
The change for individual commercial and industrial customers will vary depending on usage patterns, but on average, rates for overall commercial and smaller industrial customers would also increase less than the original proposal.
It has been more than 25 years since NIPSCO's base natural gas rates have increased, and in 2010, a regulatory review led to a slight decrease.
Since that time, NIPSCO has repeatedly been the lowest-cost provider in Indiana - and among the lowest-cost providers in the nation - while improving service, reliability and safety to customers.
NIPSCO anticipates that, with the newly proposed rates, it will remain among the lowest-cost providers.
NIPSCO electric rates are not affected.
About NIPSCO: Northern Indiana Public Service Company (NIPSCO), with headquarters in Merrillville, Indiana, has proudly served the energy needs of northern Indiana for more than 100 years. As Indiana's largest natural gas distribution company and the second-largest electric distribution company, NIPSCO serves approximately 820,000 natural gas and 460,000 electric customers across 32 counties. NIPSCO is part of NiSource's (NYSE:
NI) seven regulated utility companies. NiSource is one of the largest fully regulated utility companies in the United States, serving approximately 4 million natural gas and electric customers through its local Columbia Gas and NIPSCO brands. More information about NIPSCO and NiSource is available at NIPSCO.com and NiSource.com.