NIPSCO seeks rate hike approval from IURC
MERRILLVILLE, Ind. (Inside INdiana Business) — A northern Indiana utility has submitted a request with the Indiana Utility Regulatory Commission to raise its base natural gas rates, which if approved, will increase customer bills. Northern Indiana Public Service Co., says the additional revenue would be used to make infrastructure improvements, including replacing older gas lines.
NIPSCO, a subsidiary of Merrillville-based NiSource Inc. (NYSE: NI) ,says an average residential customer, using 70 therms per month, would see a monthly increase of $9.00 per month, or about 17%.
The company says if the rate hike is approved by the IURC, the two-phase increase would go into effect next September.
“Maintaining a safe system and ensuring the safety of our customers and communities is ingrained in all facets of the work we do now, and it will continue to drive how we operate in the future,” said Mike Hooper, NIPSCO president and chief operating officer. “This request will allow for essential resources and investments to sustain the integrity of our infrastructure while balancing costs and improvements to better serve our customers.”
NIPSCO says its natural gas base rates were most recently approved in 2018. The utility says since then it has invested approximately $885 million in system upgrades and technology improvements.
Click here to learn more about NIPSCO’s rate hike request.