To support security and compliance and modernize infrastructure
Northern Indiana Public Service Company LLC (NIPSCO), a NiSource company, received approval from the Indiana Utility Regulatory Commission (IURC) to increase its gas prices effective August 2024.
The utility recently announced the changes in a statement from its headquarters in Merrillville.
Starting in August, the newly approved tariffs will be introduced in two stages to spread the changes more evenly for customers, with the remaining changes taking effect in 2025.
The average residential natural gas customer who uses 72 therms per month will see a total increase of about $5 per month (or 7.1 percent). The change will be phased in in two stages beginning in August 2024 and in Q1 2025, but no later than March 1, 2025. In its original proposal, NIPSCO had asked the IURC for a monthly increase of about $8 per month, or 10.6 percent.
In its original proposal, the utility also asked to increase the monthly fee for residential customers from $16.25 to $25.50 per month. The IURC rejected this request and increased the fee to $16.50 per month.
The multifamily customer fee was adjusted from $20.44 per month to $20.75.
The fee for small business customers has been adjusted from $66.00 per month to $67.00.
The actual projected bill impact may vary by customer, including commercial customers, depending on usage and possible future market price changes, said Tara McElmurry, communications manager at NIPSCO.
“Customers expect a safe, reliable supply of natural gas delivered in the most cost-effective manner possible,” said Vince Parisi, president and chief operating officer of NIPSCO. “This decision balances the need for adjusted rates and supports the ongoing service and infrastructure improvements needed to replace older parts of our system, reduce potential risks and improve the reliability and safety of our natural gas system.”
NIPSCO’s statement said the parties agreed to increase NIPSCO’s contribution to the Universal Service Program, the company’s Customer Assistance for Residential Energy Discount program, which provides additional discounts to customers enrolled in LIHEAP.
These additional discounts, which currently range from 11 to 26 percent bill reduction, have been increased to 15 to 32 percent bill reduction and are intended to provide customers with even more assistance.
