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NIPSCO originally made the proposal in September.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

    • Job Insights For The Third Quarter

      To provide accurate and timely employment forecasts for business leaders, Express Employment Professionals International Headquarters conducts an ongoing Job Insights survey to track quarterly hiring trends across a wide range of industries. Express surveyed business owners, decision makers, and human resource professionals about the overall hiring trends in their markets and how they impact their hiring decisions. Overall confidence remains high going into the second half of 2018.

    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

    • Purdue Professor, Wife Indicted For Fraud

      A Purdue University professor and his wife have been indicted on federal fraud charges. U.S. Attorney Thomas Kirsch's office says Qingyou Han and Lu Shao are accused of hatching a scheme to defraud the National Science Foundation. 

    • Maureen Krauss (pictured left) is chief economic development officer at the Indy Chamber and Tom Leinbarger (pictured right) is chief executive officer at Cummins Inc.

      Indiana Businesses Fret Potential Trade War

      As a potential trade war looms over recently-imposed tariffs on China, Indiana businesses are expressing concern about the fallout. It is estimated that global trade supports more than 800,000 jobs in Indiana, many of those in the manufacturing and agriculture sectors. In 2016, Columbus-based Cummins Inc. sold more than 500,000 engines in China. Chief Executive Officer Tom Linebarger says the company's global footprint generates jobs and investment in Indiana.

    • Devour Indy Restaurants Unveiled

      Devour Indy has released the list of restaurants participating in the Summerfest 2018 event, which kicks off next month. More than 100 Indianapolis-area restaurants are participating this year, including more than 10 new additions to the list. 

    • The fund was first announced as part of Holcomb's Next Level Agenda. (Image courtesy of the state of Indiana.)

      Next Level Fund Makes First Investments

      Governor Eric Holcomb’s office says the Next Level Indiana Trust Fund has made its first two funding commitments. The fund, created by the Indiana General Assembly in 2017, has awarded a total of $21.5 million to Indianapolis-based High Alpha Capital and Colorado-based Foundry Group.

    • Walmart Details Crawfordsville Layoffs

      Walmart Inc. (NYSE: WMT) is reducing workforce at the Walmart Optical Lab in Crawfordsville. In a notice to the state, the company said 108 employees will be out of work by the end of September. A corporate spokeswoman told Inside INdiana Business the decision was a response to "changing business needs." She added "we are making adjustments at our Walmart Optical Labs in Crawfordsville to help ensure we have the right people in the right place at the right time."