New NIPSCO electricity rates begin in August - WNDU
New NIPSCO electricity rates begin in August
SOUTH BEND, Ind. (WNDU) - If you’re a NIPSCO customer, your electric bill could look a little different this month!
NIPSCO will be utilizing a more balanced energy portfolio after a decision by the Indiana Utility Regulatory Commission to adjust its electric rates, beginning in August 2023. The energy provider says that the rates will be added over a multi-step process meant to spread out changes to customer bills into 2024.
For the average customer, who typically uses 668 kilowatt hours per month, an overall increase of approximately $12 per month, or 10%, will be reflected in their electricity bill. Actual projected bill impacts may vary by customer.
The newly approved rates support the company’s investment of approximately $700 million in electric transmission and distribution system upgrades, technology improvements, and safety and reliability initiatives to be completed by the end of the year.
The rate changes also come as NIPSCO is phasing out its remaining coal-fired facilities, as the costs associated with facility maintenance and operation will be reduced and eventually eliminated. The company says it hopes to retire these facilities by 2028.
NIPSCO says there are more customer benefits associated with this change, including:
- Continued investments to protect the electric grid against cybersecurity threats.
- A broad range of system upgrades to increase reliability.
- Modernization of the electric grid with automated technology that pinpoints problems and allows the company to make repairs more efficiently.
- Enhanced overall customer experience through the introduction of new products and services. Recent enhancements include a mobile app, the ability for customers to connect with customer care agents online via live or automated chat, the continuation of energy efficiency programs, and more.
- NIPSCO funding assistance to community action programs to enable health and safety work for the low-income weatherization program.
The IURC decision to increase rates follows a nearly year-long, extensive review process, including public input and collaborative agreement between the state and NIPSCO.
Customers experiencing difficulty paying their bills, regardless of income, are encouraged to contact the NIPSCO Customer Care Center, Monday through Friday, between 7 a.m. and 7 p.m. CST at 1-800-464-7726 to determine what help might be available.
For more information on NIPSCO’s rate increase, click here.
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