Over a billion dollars in electric system upgrades for NIPSCO was approved today by the Indiana Utility Regulatory Commission. NIPSCO Spokesperson Nick Meyer told the Region News Team much of nation's electric system, including NIPSCO's was built over 50 years ago and are reaching the limits of their original design, so this one-point-one billion dollar reinvestment plan will modernize the critical areas before they become problematic. Meyer says this will allow NIPSCO to provide a continued safe, reliable and modern system for the future which is critical to attracting new business and expanding existing businesses in the area, as well as identifying and eliminating potential recurring outages caused by some of the aging system failures.
Meyer says the approved plan also includes economic development assistance, in the form of replacing old wooden poles, updating electric lines and more energy efficient lighting in communities, which could begin in the coming months not only in northwest Indiana, but every county they provide electric service.
He says the cost increases for customers will be spread out over time with no impact in 2014 on the typical residential bill, a little less than half-percent for the year 2015 and beyond that a one-percent annual increase through 2020.