Indiana utility seeking 16.5 percent electric rate increase

The utility that gives electrical energy for a lot of northern Indiana is searching for a 16.5 p.c charge enhance, saying the speed hike would assist it modernize its electrical grid and make different enhancements.

Merrillville, Indiana-based Northern Indiana Public Service Co. requested the Indiana Utility Regulatory Fee this week to approve the speed enhance over two years for its 470,000 clients throughout 32 northern Indiana counties.

The corporate, a subsidiary of NiSource, mentioned that if the IURC approves the rise its common residential buyer utilizing 668 kilowatt hours per 30 days and at the moment paying $120 would pay $19 extra per 30 days, The (Northwest Indiana) Occasions reported.

The speed hike would begin by September 2023, with the remaining adjustments utilized in March 2024 and July 2024 beneath the utility’s proposal.

NIPSCO mentioned the rise would increase funds to modernize its electrical energy grid, monitor the transmission of electrical energy and generate cleaner electrical energy from renewable power tasks.

The utility, which final raised its electrical energy charges in 2018, will enhance its pure fuel payments by 10% in September for its 850,000 pure fuel clients beneath a beforehand authorized plan.

The IURC should approve any charge hikes for the reason that utility has a monopoly on electrical energy and pure fuel within the northern Indiana markets it serves, exempting it from the aggressive market pressures that will usually preserve costs in examine.