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NIPSCO originally made the proposal in September.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

    • Seven Steps to Overcome Your Fear of Writing

      "I hate to write!" While that phrase is music to my ears, because it ensures my income will persist, it also saddens me. Far too many people dislike writing, largely because they’re intimidated by the process of knitting words into sentences and sentences into paragraphs. Nearly everyone needs to write from time to time, and the ability to assemble words in a coherent way can impact your success. Whether you have to write reports, proposals, memos, or even emails...
    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

    • Hoosier Companies Among 'Most Admired'

      Two Indiana companies are included in Fortune's 2019 list of the "World's Most Admired Companies." The list was determined by a survey of nearly 4,000 executives, directors and analysts who rated companies in their own industries based on criteria such as investment value, quality of management and ability to attract talent.

    • Books & Brews Acquires Flat12 Bierwerks

      Indianapolis-based Books & Brews has announced its acquisition of Flat12 Bierwerks, also based in Indy. Financial terms of the deal are not being disclosed, however Books & Brews says it will continue to operate Flat12 under the same brand name. The acquisition is a continuation of an existing partnership between the two entities. Books & Brews says Flat12 has been a brewery partner for the past two years, brewing all of B&B's flagship and seasonal beers.

    • Hoosier Companies Among 'Best and Brightest'

      Two Indiana companies are among more than 500 selected by the National Association for Business Resources as the 2018 Best and Brightest Companies to Work For in the Nation. The winners were chosen by an independent research firm from more than 2,400 nominations.

    • Indiana Liquor Group to Buy Save-On Liquor Chain

      Indiana Liquor Group LLC will work with the Indiana Alcohol & Tobacco Commission this week for final approval of its purchase of Save-On Liquor stores. Our partners at The Herald Bulletin report Phillip E. Miller agreed to sell the 31-location package store chain to ILG last month. 

    • Cook: Location, Funding Among Eleven Park Questions

      Several ambitious economic development projects are already taking center stage this year, particularly in central Indiana. Indianapolis-based KSM Location Advisors Chief Executive Officer Tim Cook and President Katie Culp say efforts like Eleven Park, which would include a new stadium for the Indy Eleven soccer team, and a potential casino in downtown Indianapolis are among the key projects being talked about. On the (i) on Economic Development segment on Inside INdiana Business...