Northern Indiana Public Service Company LLC (NIPSCO), a subsidiary of NiSource Inc. (NYSE: NI), received a decision from the Indiana Utility Regulatory Commission (IURC) to modify its electric rates effective Jan. 1, 2020.
The decision follows an extensive regulatory review and public input process, which began with NIPSCO's original proposal in November 2018, and has resulted in a balanced outcome for customers.
"Providing affordable and reliable energy is essential," said NIPSCO president
Violet Sistovaris. "New rates are anticipated to remain in line with the national average as we focus on continuing to better serve customers now and into the future."
An average NIPSCO residential electric customer will see an overall increase of approximately $6 per month instead of $11 as in the original proposal. The change will be phased in across two steps – Jan. 1 and Mar. 1, 2020.
Included within the overall bill change will be a decrease in the monthly customer charge – the flat monthly cost associated with serving customers regardless of their usage – from $14 per month, down to $13.50 per month.
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 will also increase less than NIPSCO's original proposal.
The last change in NIPSCO's base electric rates was made in 2016. Primary drivers for the increase include investments in upgrading electric infrastructure, environmental upgrades and a shift in the way some large industrial customers will obtain electricity in the future.
With the change in rates, NIPSCO remains focused on improving service through investments to minimize outages, provide better overall response and information to customers when outages occur and help customers save energy and money.
NIPSCO reminds customers who may be experiencing difficulty with their bill – regardless of their income – to learn about what options may be available to them at nipsco.com/paymentassistance.
Additionally, customers can learn about programs and incentives to be more energy efficient at nipsco.com/save.
About NIPSCO: Northern Indiana Public Service Company LLC (NIPSCO), with headquarters in Merrillville, Indiana, has proudly served the energy needs of northern Indiana for more than 100 years. As Indiana's largest natural gas distribution company and the second-largest electric distribution company, NIPSCO serves approximately 820,000 natural gas and 472,000 electric customers across 32 counties. NIPSCO is part of NiSource's (NYSE: NI) seven regulated utility companies. NiSource is one of the largest fully regulated utility companies in the United States, serving approximately 4 million natural gas and electric customers through its local Columbia Gas and NIPSCO brands. More information about NIPSCO and NiSource is available at NIPSCO.com and NiSource.com.
About NiSource: NiSource Inc. (NYSE: NI) is one of the largest fully-regulated utility companies in the United States, serving approximately 3.5 million natural gas customers and 500,000 electric customers across seven states through its local Columbia Gas and NIPSCO brands. Based in Merrillville, Indiana, NiSource's approximately 8,000 employees are focused on safely delivering reliable and affordable energy to our customers and communities we serve. NiSource has been designated a World's Most Ethical Company by the Ethisphere Institute since 2012, is a member of the Dow Jones Sustainability - North America Index and was named by Forbes magazine as the top-rated utility among America's Best Large Employers in 2017. Additional information about NiSource, its investments in modern infrastructure and systems, its commitments and its local brands can be found at www.nisource.com. Follow us at www.facebook.com/nisource, www.linkedin.com/company/nisource or www.twitter.com/nisourceinc. NI-F
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SOURCE NiSource Inc.
Nick Meyer, NIPSCO, 219-647-6556