NIPSCO natural gas customers will see a rate increase on their monthly bills starting Aug. 1.
While bill amounts will vary by customer, the average residential customer will see an increase of about $5 a month, with that increase being phased in over the next six months.
A release from the company says that amount is lower than the initial requested increase of $8, or 10.6 percent.
The rate increase allows the company to upgrade older parts of its natural gas infrastructure, making an estimated $1.1 billion in investments through the end of 2024.
The Indiana Utility Regulatory Commission approved the rate increase on Wednesday.
According to documents, the rate increase was initially requested in October. A public hearing was held in Fort Wayne on January 8, and another in Hammond on January 23. A settlement hearing was held in April.
The final order released by the IURC included additional steps NIPSCO would take to benefit lower-income customers who have fallen behind on their bill.
