NIPSCO Reaches Settlement on Gas Rate Increase

Posted: Updated:
(Image courtesy of NIPSCO) (Image courtesy of NIPSCO)
MERRILLVILLE -

Merrillville-based Northern Indiana Public Service Co. has reached a settlement with the Indiana Office of Utility Consumer Counselor regarding a proposed natural gas rate increase. If approved, NIPSCO says the settlement will lead to customers seeing an average overall monthly increase of $8 on their bills.

NIPSCO originally made the proposal in September. Under the terms of that proposal, the average residential customer would have seen an overall increase of $10 per month. The utility said it was looking to generate additional funds to cover the costs of infrastructure upgrades.

Per the terms of the settlement, customers will see a $3 increase in the fixed monthly customer charge, which is lower than the proposed $8.50 increase. The new rates will also include the lower tax rate created by the federal tax reform bill.

"This agreement provides a fair and equitable resolution in this case, mitigating the rate increase while ensuring that the utility will have the revenues needed to complete numerous upgrades needed throughout its gas transmission and distribution system," said Indiana Utility Consumer Counselor Bill Fine. "Our attorneys and technical experts have dedicated a substantial amount of time to this case over the last several months, leading to the negotiations that have resulted in the agreement."

The settlement remains subject to approval from the Indiana Utility Regulatory Commission. If approved, the new rates would be phased in over two years, with the first phase coming in the fourth quarter of 2018.

NIPSCO says the settlement will not affect electric rates.

  • Perspectives

    • Truck Driver Supply Impacting Cargo Hauling Demand

      The U.S. unemployment rate has moved down to 3.9 percent, which is its lowest level since December 2000, according to the U.S. Bureau of Labor Statistics. Great news! Maybe not. There are business sectors that need employees due to constraints in the labor market - namely truck drivers. The level of employment in the truck transportation industry is essentially unchanged since mid-2015, according to the bureau. And the impact is being felt.

    More

Subscribe

Name:
Company Name:
Email:
Confirm Email:
HTML
INside Edge
Morning Briefing
BigWigs & New Gigs
Life Sciences Indiana
Indiana Connections
INPower
Subscribe
Unsubscribe

Events



  • Most Popular Stories

    • Triple XXX Root Beer Appears in Prime Time

      A soft drink that carries the name of an iconic West Lafayette restaurant has been featured on a national television series. In a message on the Triple XXX Family Restaurant's Instagram page, co-owner Carrie Ehresman said the recent appearance of Triple XXX Root Beer on NBC's "Chicago Fire" was not product placement. She said the show's producers reached out through the restaurant's website and "we weren't sure we'd make the final cut until it aired!"

    • Mark Sandy became Ball State's director of intercollegiate athletics in 2015.

      Ball State to Introduce Next AD

      Ball State University Monday will name a new director of intercollegiate athletics. Mark Sandy, who has served in the position for more than three years, announced his retirement in January. During Sandy's tenure, eight teams won Mid-American Conference league championships or division titles. Three new facilities projects have been completed during his time in Muncie...

    • On-Air

      Find out when and where you can watch and listen to our reports.

    • Simon recently opened outlets in South Korea and France.

      Simon, Marriott Partnership Grows

      Indianapolis-based Simon Property Group Inc. (NYSE: SPG) is expanding its partnership with Maryland-based Marriott International Inc. (Nasdaq: MAR). The companies have announced plans to open at least five new hotels at Simon shopping centers throughout the country over the next several years. 

    • The facility also features a computer training lab, a bistro and Bosma's retail store.

      Bosma Launches Salesforce Training Program

      Indianapolis-based Bosma Enterprises has launched a program to train people who are blind or visually impaired to be Salesforce administrators. The organization says BosmaForce involves an 18-week online course available throughout the United States. Bosma Enterprises Chief Executive Officer Lou Moneymaker says people who are blind of visually impaired face a 70 percent national unemployment rate, and the BosmaForce program aims to create pathways to high-paying, in-demand careers.