NIPSCO projects residential customers could pay more to heat their homes this winter compared to last season.
The Merrillville-based utility said current market price projections for natural gas and assuming normal winter weather, means residential gas customers may see their winter heating bills increase 18% this season compared to last winter’s average heating bills.
The company estimates between Nov. 1 and March 31 typical natural gas residential customers using 615 therms could pay $661 compared to $559 during the same period last year, representing an overall $102 seasonal increase or about $20.40 per month during the five-month period.
NIPSCO and other Indiana energy companies provide a forecast for home heating bills for upcoming winter heating season. Projections consider market forecasts, supply trends and storage levels, and are based on normal weather projections.
If temperatures are colder or warmer than normal, usage amounts and bills could differ, the utility said.
NIPSCO residential customers already have seen their gas prices increase this year.
The utility implemented a two-step gas rate increase Sept. 1. Residential customers were expected to see a $6 monthly increase in their gas bills with the majority of that increase coming in September and the remainder to come in March.
NIPSCO serves approximately 850,000 natural gas and 483,000 electric customers across 32 counties in northern Indiana.