Business and Economics

NIPSCO Adjusts Rate Hike Estimates

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September 22, 2014 — The Associated Press — Regulatory documents show Northern Indiana Public Service Company lowered its estimates of how much electricity and natural gas bills will rise, under its seven-year modernization plans.

The Times reports the documents recently filed with the Indiana Utility Regulatory Commission estimate natural gas rates will go up by a total of just under 5-percent by 2020 under its modernization plan, compared with nearly 10-percent estimated previously.

NIPSCO’s reduced its estimated cumulative electric rate increase to 4.9 percent from about 6-percent.

NIPSCO spokesman Nick Meyer says the Merrillville-based utility adjusted its allowed rate of return to comply with IURC orders. That involved accounting for higher revenues NIPSCO may receive from new natural gas extensions into rural areas.

 

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