NIPSCO lands approval for electric rate increase
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The Indiana Utility Regulatory Commission has given approval for Merrillville-based Northern Indiana Public Service Co. to raise its electric rates over the next several months.
The utility said the average residential electric customer will see a monthly increase of $23, down from its original proposal of $32 per month.
The approved changes are the result of an agreement among NIPSCO, the Indiana Office of Utility Consumer Counselor and other stakeholders.
The rate increase will be implemented in phases beginning in July and continuing through the first quarter of 2026. NIPSCO said actual impacts on customers’ bills will depend on usage and “future potential changes in market prices.”
“We understand that any increase in bills is significant, and we remain focused on supporting our customers through this transition with new assistance programs and continued improvements to service and reliability,” NIPSCO President and Chief Operating Officer Vince Parisi said in a news release.
NIPSCO said the increase will support more than $2 billion in capital investments to transition its electric generation to a more balanced generation portfolio. An additional $770 million will be spent on infrastructure upgrades, including replacing aging poles and lines, construction new substations, and modernizing the electric grid.
The utility added that previous investments have led to a 40% reduction in power outage durations, as well as the replacement of more than 300 miles of aging underground cable, among other efforts.