The Northern Indiana Public Service Company is projecting that this winter’s
natural gas prices will be among the lowest in more than 10 years.
Assuming normal winter temperatures, customers are expected to see a
decrease of 7.7 percent in their overall home heating bills this upcoming
heating season compared to last winter, NIPSCO said in a statement released
on Wednesday.
Over the course of the five-month winter heating season—Nov. 1 to March 31—NIPSCO’s
average residential customer using a total of 623 therms could expect to pay
approximately $461, compared to $499 for a customer using the same amount of
gas during last winter.
“As household budgets remain strapped, we are glad to share favorable news
about expected natural gas prices this winter,” said NIPSCO CEO Jimmy Staton.
“Market prices for natural gas have stabilized because of increased domestic
production, onshore shale gas discoveries, and increased storage and
transportation capabilities. This stable market outlook will provide a
much-needed benefit to homes and businesses across northern Indiana.”
“Actual bills may vary by customer depending on the home’s age and size,
number in the household, number and age of gas appliances, thermostat
settings, and insulation levels,” NIPSCO noted.
“The cost of natural gas represents the largest portion of customer bills—on
average, three-fourths of an overall bill,” NIPSCO said. The company “has no
mark-up and makes no profit on the cost of natural gas billed to its
customers. Before billing, natural gas commodity costs must be reviewed by
the Indiana Utility Regulatory Commission (IURC).”
“With a history of securing the most reliable supply of natural gas at the
lowest cost for customers, NIPSCO’s purchasing strategy consists of buying
gas in the market from a variety of sources at different times throughout
the year, while utilizing gas storage to offset market price volatility,”
NIPSCO said.
NIPSCO’s gas distribution system provides access to seven interstate
pipelines, three on-system storage facilities, and eight major North
American supply basins.
While NIPSCO cannot control market conditions affecting the price of natural
gas, the utility does negotiate the best possible price for the natural gas
it purchases for its customers.
“Although winter bills are expected to be lower, we recognize the unique
challenges that many of our customers are facing—especially seniors, the
disabled and those on fixed incomes,” Staton said. “It’s important that any
customer, regardless of their situation, contact us to determine what
options might be available to offer help.”
NIPSCO offers a number of solutions to help customers use energy wisely,
make smart energy decisions and manage their monthly bill:
•Payment Assistance Programs. Based on income levels, customers may
qualify to receive state and federal utility assistance dollars as well as
support funds from separate NIPSCO programs by visiting their local
community action agency.
•BudgetPlan. A free service to all NIPSCO customers to help manage
their monthly energy bills by spreading out gas costs over an entire year.
•NIPSCO Choice Program. Gives customers an opportunity to choose an
alternative natural gas supplier for their home or business. Customers can
purchase gas from an alternative supplier, but NIPSCO is responsible for
maintaining the pipeline that delivers the natural gas.
•DependaBill and Price Protection Service (PPS). DependaBill provides
a fixed monthly bill with no annual reconciliation, while the PPS option
allows customers to fix or cap their per-unit cost of natural gas.
•Appliance Rebates. Offers rebates ranging from $20-$750 to all
NIPSCO residential customers who purchase select energy-efficient natural
gas furnaces, water heaters, or boilers.
•On-line Home Energy Audit. A free, interactive on-line calculator
that analyzes your home energy usage and provides customized ways to save
energy in your household.
More information on billing options, payment assistance, energy efficiency
programs and helpful tips can be found at NIPSCO.com
Custom Search