MERRILLVILLE, IN — Northern Indiana Public Service Company has proposed a 16.5% electric rate increase over two years.
The NIPSCO rate increase announced Monday will need approval from state authorities.
NIPSCO provides electricity to 470,000 customers and natural gas to 830,000 customers across 32 counties in northern Indiana.
Projections from the company say the electric price increase would total $19 per month for a customer who now pays $120 per month. NIPSCO said the change would start by September 2023, with the remaining changes applied in March 2024 and July 2024.
The request comes two months after Merrillville-based NIPSCO received approval from the Indiana Utility Regulatory Commission to make the increase in a two-step process beginning in September. The utility said the average residential customer will see an expected overall increase of about $6 per month.
NIPSCO submitted it’s initial request for the gas rate increase in September 2021. The utility said at the time the additional revenue would be used to make infrastructure improvements, including replacing older gas lines.
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