The newly approved electric base rates — which have not been modified in 24 years — are being updated to reflect investments made to improve service reliability and environmental technology, including the
A residential electric customer using 688 kilowatt hours a month on average will see a 4.5 percent base rate increase (or
Residential Electric Customer Bill Impact | ||||
Monthly Usage |
Current Bill
|
Proposed Bill
|
Increase |
Percent |
Average 688 |
|
|
|
4.45% |
The newly approved electric rates are expected to take effect immediately.
"This decision is a pivotal step in furthering our commitment to enhance reliability and customer service for our customers, while providing a modern energy infrastructure to support northern
Customer benefits from decision
The decision reflects a number of benefits to customers, including:
"While providing a much smaller base rate increase than originally requested, this agreement ensures NIPSCO will be able to continue making the infrastructure investments that will be needed for safe, reliable service," said Indiana Utility Consumer Counselor David Stippler. "I am pleased that the OUCC, NIPSCO and other settling parties were able to work together to reach a balanced resolution to this extremely complicated litigation."
"We believe the concerns raised by the local municipalities were addressed through this process, which was both open and collaborative," said
Maintaining electric rates below the U.S. average
NIPSCO anticipates that the decision will help the company maintain electric rates below the national average. According to the most recent Edison Electric Institute's survey of electric rates, NIPSCO's residential, commercial and industrial electric rates are below the average price nationally for electricity and near the
Natural gas rates and charges are not at issue in this case.
A copy of the IURC's decision will be available on the IURC's electronic document system by visiting https://myweb.in.gov/IURC/eds/ and searching for Cause No. 43969. It will also be available on the OUCC Website at www.in.gov/oucc/2643.htm.
For more information about NIPSCO's rates and this filing, customers are encouraged to visit NIPSCO.com and the OUCC's Website at www.IN.gov/OUCC.
NIPSCO, with headquarters in
Forward-Looking Statements: Some of the statements provided herein include forward-looking information, in addition to historical information. Readers should understand that many factors govern whether any forward-looking statement contained herein will be or can be realized including, but not limited to weather, fluctuations in supply and demand for energy commodities, the success of regulatory and commercial initiatives, dealings with their parties over whom NIPSCO has no control, actual operating experience of NIPSCO assets, the regulatory process, regulatory and legislative changes, the impact of potential new environmental laws or regulations, the results of material litigation, changes in pension funding requirements, changes in general economic, capital and commodity market conditions, counterparty credit risk, and the matters set forth in the "Risk Factors" section of
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