updated: 9/7/2009 12:26:27 AM
Merrillville-based Northern Indiana Public Service Company (NIPSCO) says the price of natural gas is up 15.1 percent this month, compared to August. The utility says the increase is due to a change in wholesale market prices. Customers who use a monthly total of 50 therms of natural gas can expect a September bill that is 8.11 percent higher from the same usage in August. NIPSCO says residential bills change each month depending on wholesale prices. The utility says it does not mark up the costs.
Source: Inside INdiana Business
MERRILLVILLE, Ind. – Northern Indiana Public Service Company announced that due to the change in price of natural gas on the wholesale market, the price for September 2009 is 38.15 cents per therm, which is up 15.1 percent from the August gas price.
Natural gas costs reflected on residential gas bills change each month dependent upon the gas prices in the wholesale market. NIPSCO does not mark up this cost.
By way of example, customers using a monthly total of 50 therms of natural gas should expect their September bill to total $25.85, which represents an 8.11 percent increase from an August bill with the same usage.
Additionally, NIPSCO announced that it provided its residential gas customers the lowest gas costs in the state for August. This is the fifth straight month this year that NIPSCO was the lowest cost gas provider in Indiana. This information can be found on the Indiana Utility Regulatory Commission’s website at www.in.gov/iurc.
“While there was a slight increase this month, natural gas prices are still among the lowest prices we’ve seen in the last seven years, which is great news for our customers,” said Eileen O’Neill Odum, CEO of NIPSCO. “Some of the factors that are influencing the market include strong storage levels and domestic production, a mild weather forecast and reduced usage by large-volume customers.”
As a regulated utility, monthly gas costs paid by customers – which represent nearly three-fourths of a customer’s total bill – are approved by the Indiana Regulatory Commission. Those costs are passed through directly to the customer with no profit mark-up.
NIPSCO offers a variety of services and options aimed at helping customers manage their monthly bills. In addition, there are a number of programs available to customers, including NIPSCO’s energy efficiency programs, which help customers save energy and money. To learn more, customers are encouraged to visit www.nipsco.com or call (800) 4-NIPSCO (800-464-7726).
Helpful consumer information on natural gas prices and managing utility bills is also available from the Indiana Office of Utility Consumer Counselor toll-free at 888-441- 2494, or visit their website at www.in.gov/oucc. The OUCC is the state agency that represents the interests of all Indiana consumers in matters related to the provision of utility services.
NIPSCO, with headquarters in Merrillville, Ind., is one of the 10 energy distribution companies of NiSource Inc. (NYSE: NI). With over 712,000 natural gas customers and 457,000 electric customers across the northern third of Indiana, NIPSCO is the largest natural gas distribution company, and the second largest electric distribution company, in the state. NiSource distribution companies serve 3.8 million natural gas and electric customers primarily in seven states. More information about NIPSCO is available at www.nipsco.com.