MERRILLVILLE, Ind.,
Sept. 20, 2018 /PRNewswire/
-- Indiana's lowest-cost natural gas provider, Northern
Indiana Public Service Company LLC (NIPSCO), a unit of NiSource
Inc. (NYSE: NI), received a decision from the Indiana Utility
Regulatory Commission (IURC) to modify its natural gas rates
effective Oct. 1, 2018.
"Maintaining affordable energy costs for customers is
essential," said NiSource Executive Vice President and NIPSCO
President Violet Sistovaris. "This
balanced outcome allows us to continue to improve service and
provides a platform for continued investments in public safety and
other programs to better serve customers now and into the
future."
The decision follows an extensive regulatory review and public
input process and is based on a collaborative agreement reached
earlier in the year with the Indiana Office of Utility Consumer
Counselor (OUCC), industrial customers and the NIPSCO Gas Supplier
Group.
Newly approved rates will be phased in over two years, and an
average NIPSCO residential natural gas customer will see an overall
increase of approximately $8 per
month instead of $10 in the original
proposal.
Included within the overall bill change will be an increase in
the monthly customer charge from $11
to $14, which is also lower than what
was originally proposed. New rates also account for the lower tax
rate associated with the federal tax reform.
The change for individual commercial and industrial customers
will vary depending on usage patterns, but on average, rates for
overall commercial and smaller industrial customers will also
increase less than the original proposal.
It has been more than 25 years since NIPSCO's base natural gas
rates have increased, and in 2010, a regulatory review led to a
slight decrease. Since that time, NIPSCO has repeatedly been the
lowest-cost provider in Indiana —
and among the lowest-cost providers in the nation — while improving
service, reliability and safety to customers.
NIPSCO anticipates that, with the newly approved rates, it will
remain among the lowest-cost providers.
NIPSCO electric rates are not affected.
About NIPSCO
Northern Indiana Public Service Company
LLC (NIPSCO), with headquarters in Merrillville, Ind., has proudly served the
energy needs of northern Indiana
for more than 100 years. As Indiana's largest natural gas distribution
company and the second-largest electric distribution company,
NIPSCO serves approximately 820,000 natural gas and 460,000
electric customers across 32 counties. NIPSCO is part of NiSource's
(NYSE: NI) seven regulated utility companies. NiSource is one of
the largest fully regulated utility companies in the United States, serving approximately 4
million natural gas and electric customers through its local
Columbia Gas and NIPSCO brands. More information about NIPSCO and
NiSource is available at NIPSCO.com and NiSource.com.
About NiSource
NiSource Inc. (NYSE: NI) is one of the
largest fully-regulated utility companies in the United States, serving approximately 3.5
million natural gas customers and 500,000 electric customers across
seven states through its local Columbia Gas and NIPSCO brands.
Based in Merrillville, Indiana,
NiSource's approximately 8,000 employees are focused on safely
delivering reliable and affordable energy to our customers and
communities we serve. NiSource has been designated a World's Most
Ethical Company by the Ethisphere Institute since 2012, is a member
of the Dow Jones Sustainability - North America Index and was named
by Forbes magazine as the top-rated utility among America's
Best Large Employers in 2017. Additional information about
NiSource, its investments in modern infrastructure and systems, its
commitments and its local brands can be found at www.nisource.com.
Follow us at www.facebook.com/nisource,
www.linkedin.com/company/nisource or www.twitter.com/nisourceinc.
NI-F
Forward-Looking Statements
This press release contains
forward-looking statements within the meaning of federal securities
laws. Many factors govern whether any forward-looking statement
contained herein will be or can be realized. Any one of those
factors could cause actual results to differ materially from those
projected. Examples of forward-looking statements in this press
release include statements and expectations regarding NiSource's or
any of its subsidiaries' business, performance, growth,
commitments, investment opportunities and planned, identified,
infrastructure or utility investments. All forward-looking
statements are based on assumptions that management believes to be
reasonable; however, there can be no assurance that actual results
will not differ materially. Factors that could cause actual results
to differ materially from the projections, forecasts, estimates,
plans, expectations and strategy discussed in this press release
include, among other things, NiSource's debt obligations; any
changes in NiSource's credit rating; NiSource's ability to execute
its growth strategy; changes in general economic, capital and
commodity market conditions; pension funding obligations; economic
regulation and the impact of regulatory rate reviews; NiSource's
ability to obtain expected financial or regulatory outcomes; any
damage to NiSource's reputation; compliance with environmental laws
and the costs of associated liabilities; fluctuations in demand
from residential and commercial customers; economic conditions of
certain industries; the success of NIPSCO's electric generation
strategy; the price of energy commodities and related
transportation costs or an inability to obtain an adequate,
reliable and cost-effective fuel supply to meet customer demands;
the reliability of customers and suppliers to fulfill their payment
and contractual obligations; potential impairments of goodwill or
definite-lived intangible assets; changes in taxation and
accounting principles; potential incidents and other operating
risks associated with our business; the impact of an aging
infrastructure; the impact of climate change; potential
cyber-attacks; construction risks and natural gas costs and supply
risks; extreme weather conditions; the attraction and retention of
a qualified work force; advances in technology; the ability of
NiSource's subsidiaries to generate cash; tax liabilities
associated with the separation of Columbia Pipeline Group, Inc.;
NiSource's ability to manage new initiatives and organizational
changes; the performance of third-party suppliers and service
providers; the availability of insurance to cover all significant
losses and other matters set forth in Item 1A, "Risk Factors"
section of NiSource's Annual Report on Form 10-K for the fiscal
year ended December 31, 2017, and in
other filings with the Securities and Exchange Commission. NiSource
expressly disclaims any duty to update, supplement or amend any of
its forward-looking statements contained in this press release,
whether as a result of new information, subsequent events or
otherwise, except as required by applicable law.
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SOURCE NIPSCO