NIPSCO seeks electric rate increase
Subscriber Benefit
As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowNorthern Indiana Public Service Co. is requesting approval from the Indiana Utility Regulatory Commission to raise electric rates for its more than 480,000 customers.
The Merrillville-based utility said, if approved, the move would raise the average residential electric customer’s rates by $32 per month.
NIPSCO said in a news release Thursday that the increase is being implemented to support its ongoing transition to renewable energy, as well as infrastructure upgrades.
If approved, the increase would begin by Sept. 1, 2025, with the remaining changes applied by March 2026. The utility noted that natural gas rates—which recently increased themselves—would not be impacted by the change.
“Part of this request includes a proposal for a new bill payment assistance program for income-qualified customers, with a portion funded by NIPSCO,” the company said. “Additionally, NIPSCO has proposed a new multifamily housing rate structure that, if approved, would allow for an approximately $10 decrease per month, to an average multifamily housing customer using 444 kwh per month compared to the standard residential rate.”
NIPSCO said the actual projected bill impacts vary by customer depending on usage and future potential changes in market prices.
The utility said it is making approximately $2 billion in new investments in renewable energy through 2025, as well as nearly $770 million for electric transmission and distribution system upgrades.
The rate request will be reviewed by the IURC, and the public will have the opportunity to provide comments. A timeline for a decision from the commission was not provided.