The proposed agreement is subject to
This settlement will limit the base rate increase to residential customers to 5.4 percent, which is down from the 11 percent proposal in NIPSCO's original
Included within the overall bill impact will be a modest increase in the fixed monthly customer charge from
The change for individual commercial and industrial customers will vary depending on usage patterns, but on average, rates for overall commercial and smaller industrial customers would increase less than the original proposal.
"Since the last change in electric base rates, NIPSCO has made considerable investments to improve service to customers while effectively managing costs," said NIPSCO executive vice president,
In reaching a comprehensive and balanced resolution of the issues in this case, some of the benefits achieved by the settlement include:
- Smaller overall bill impact and substantially reduced monthly customer charge increase for residential, commercial and industrial customers when compared to the original proposal
- Platform for NIPSCO's continued investments and service improvements for customers
- Offering of a new LED streetlight rate, which supports a new LED streetlight conversion program for municipalities awaiting approval in NIPSCO's infrastructure modernization plan
- Expands interruptible program for industrial customers
Customers with questions regarding NIPSCO's proposal may visit NIPSCO.com/rates for more information. Natural gas rates are not at issue in this case.
This news release contains forward-looking statements within the meaning of federal securities laws. These forward-looking statements are subject to various risks and uncertainties. Factors that could cause actual results to differ materially from the projections, forecasts, estimates and expectations discussed include, but are not limited to, changes in general economic, capital and commodity market conditions; pension funding obligations; economic regulation and the impact of regulatory rate reviews; compliance with environmental laws and the costs of associated liabilities; fluctuations in demand from residential and commercial customers; economic conditions of certain industries; the price of energy commodities and related transportation costs; the reliability of customers and suppliers to fulfill their payment and contractual obligations; potential impairments of goodwill or definite-lived intangible assets; changes in taxation and accounting principles; potential incidents and other operating risks associated with our business; the impact of an aging infrastructure; the impact of climate change; potential cyber-attacks; risks associated with construction and natural gas cost and supply; and extreme weather conditions; and other matters set forth in the "Risk Factors" section of
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/agreement-reached-in-nipscos-proposal-to-modify-electric-rates-300223270.html
News Provided by Acquire Media