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NIPSCO forecasts higher natural gas prices this winter

NIPSCO says its gas customers can expect to pay 15 percent more on their heating bills this winter.

That's after the Indiana Utility Regulatory Commission approved a two-step rate increase over the summer. The first phase took effect in August, while the second phase will take effect in early 2025.

Assuming normal weather, NIPSCO projects a residential customer using 625 therms will pay more than $555 over the five-month winter heating season. That's about $73 dollars more than last year but about $116 dollars less than 2022.

While delivery costs are up, NIPSCO says the cost of natural gas itself is flat, compared to last year.

The utility encourages those who may have trouble paying to see if they qualify for help like flexible payment plans and payment assistance programs.

Michael Gallenberger is a news reporter and producer that hosts All Things Considered on 89.1 FM | Lakeshore Public Media.