IURC approves new NIPSCO electric rates, first increase since 2011

A typical residential electric bill based on a usage of 700 kilowatts a month will increase about $5.70, or 6 percent, a month.

The Indiana Utility Regulatory Commission approved an agreement NIPSCO reached in February with the Indiana Office of Utility Consumer Counselor, the utility’s industrial customers, a coalition of eight northern Indiana municipalities and the United Steelworkers. The new agreement resulted in a bill adjustment that was about half what NIPSCO originally requested.