Electric rates will be going up for NIPSCO customers this October. The Indiana Utility Regulatory Commission has approved the rate hike, following an agreement reached in February involving NIPSCO, the Indiana Office of Utility Consumer Counselor, and other groups.
In a press release, NIPSCO says typical residential customers will see their monthly bill go up by about $5.70, or roughly six percent. Rates for most commercial and smaller industrial customers will increase by about five to six percent, but will vary depending on usage patterns.
NIPSCO says the rate increase is about half of what it originally requested. The company believes it’s needed, in order to cover increased maintenance and operating costs, as well as infrastructure upgrades.
The last time base electric rates were changed was in 2011, according to NIPSCO. The company says it’s made several upgrades since then, including reducing the amount of time customers spend without power by 40 percent and upgrading customers’ meters to allow for more accurate billing.
For more information, visit NIPSCO.com/rates.