On Tuesday NIPSCO announced its forecast for home heating bills this upcoming winter heating season. Based on current market projections and assuming normal winter weather year-over-year, bills for natural gas residential customers are estimated to be 30 percent lower compared to last winter.
Over the course of the upcoming five-month winter heating season – Nov. 1 to March 31 – NIPSCO’s average residential customers using a total of 620.7 therms could expect to pay $344.94. This compares to $495.15 for a customer using the same amount of gas during last winter.
| NIPSCO Residential Winter Bill Projection | ||||||
| November | December | January | February | March | Total | |
| 2015-2016 | $40.25 | $64.54 | $90.57 | $84.27 | $65.31 | $344.94 |
| 2014-2015 | $53.16 | $97.92 | $130.89 | $113.24 | $99.94 | $495.15 |
| Usage | 62.3 therms | 115 therms |
166.5 therms |
149.9 therms |
127 therms |
620.7 therms |
Note: Actual bills vary by customers depending on the home’s age and size, number in the household, number and age of gas appliances, thermostat settings and insulation levels.
“Affordability for customers is important, especially during the winter months when people are using more gas to heat their homes,” said Violet Sistovaris, NIPSCO’s executive vice president. “Lower gas bills this winter is good news for customers, and NIPSCO continues to be the lowest cost provider in Indiana.”
The projections take into account market forecasts, supply trends and storage levels, and are based on normal weather projections. If temperatures are colder than normal, usage amounts and bills could be higher than projected.
NIPSCO purchases gas in the market from a variety of supply sources at different times throughout the year. Utilizing gas storage also helps NIPSCO offset market price volatility. NIPSCO’s gas distribution system consists of two on-system storage facilities and connects to seven interstate pipelines providing access to eight major North American supply basins.
NIPSCO continues to be the lowest natural gas cost provider in Indiana (Source: Indiana Utility Regulatory Commission (IURC), Residential Natural Gas Bill Surveys).
The cost of natural gas represents the largest portion of customer bills – on average, two-thirds of an overall bill. NIPSCO 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 and approved by the IURC.
Billing and Payment Options
Customers who are experiencing financial difficulties are encouraged to call NIPSCO’s 24-hour Customer Care Center as soon as possible to determine what options might be available to offer help. Some of those solutions include:
· 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.
· Payment Arrangements: Allows customers to make an initial payment within four days of the agreement, then spread the remaining unpaid balance over three months, plus current bills as they are due.
For more information on billing options and payment assistance, visit NIPSCO.com/BillingPayment.
Energy and Money Saving Programs
Usage makes up the largest portion of the average energy bill. Because of this, NIPSCO offers energy efficiency programs to help manage usage, and in turn bills. A full list of programs and tips available to NIPSCO customers can be found at NIPSCO.com/SaveEnergy.
