When will NIPSCO customers see lower natural gas prices?

by Kirk Mason (mason@wsbt.com)

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NIPSCO gas meter

(WSBT file photo)

By WSBT Interns

Story Created: Nov 19, 2008 at 5:03 PM EST

Story Updated: Nov 19, 2008 at 5:12 PM EST

This week's cold weather is a reminder that expensive heating bills will soon start rolling in.

Jeff Judd from Kosciusko County asked a Good Question: “With the wholesale price of natural gas down, when will our gas bills reflect a lower price?”

WSBT's Kirk Mason got the answer from NIPSCO.

Earlier this month temperatures were in the 70s and your heat wasn't even on. That's no longer the case with snow and temperatures well below freezing. No doubt the next heating bill customers receive will be the most expensive in a while.

NIPSCO originally forecast a 10 to 20 percent increase in heating bills this winter compared to last year. Energy prices have come down in recent months. NIPSCO spokesperson Mike Charbonneau now estimates a 13 percent increase.

Charbonneau cites a couple of reasons why prices are up this year.

First there are more electric generating plants that are fired through natural gas. That's sent demand soaring. Charbonneau adds that over the summer a natural gas hub in the Gulf of Mexico had a leak that cut into the supply.

News of a price hike is never easy for homeowners to stomach, but especially during these uncertain economic times.

Home heating bills can fluctuate a lot based on the weather. A colder than expected month will send prices up. A warmer than expected month will send them down.

7:10 PM A Customer wrote ...

Why don't you ask what Nipsco paid for the gas that they are delivering to you. What if I told you that some gas is used from their storage tanks that they purchased back in the 1970s? And that gas cost them what amount at that time??

1:55 PM Kevin Walsh wrote ...

The transportation/storage charges on Nipsco's gas bills are up 100% from a year ago. How does that happen? Natural gas is lower than a month ago and also lower than one year ago, yet bills soar. The "explanation" by the Nipsco man about demand being higher is nonsense. At the end of the day the price of natural gas is lower. It's possible that Nipsco made a bad bet in the futures markets and the consumer is paying for it.Like the scratch&sniff card that came with the bill..it stinks.

Sunday, Jan 4 at 1:18 PM NIPSCO Hater wrote ...

Got my December bill and it was over $625 for my home. Natural gas prices at historic lows...I've replaced all my windows, doors, roof, furnace only to see the bill rise to historic levels. A NIPSCO customer just can't win. I also blame the IRC )Indiana Regulatory Commission) which is a co-conspirator of theirs.

Tuesday, Dec 30 at 11:15 PM Ryan wrote ...

a couple of weeks ago, I believe wsbt did a story on why gasoline prices rocketed in northern elkhart, from a 1.59 to 1.79 for no reason. The next day the prices adjusted back to a 1.59. It seems like if the local news would really do some long stories about the price gouging crooks at nipsco, we might get some real releaf. As many friends and relitives get 400.00-600.00 bills this month on medium sized houses, I hope wsbt can really harp on nipsco publicly, and do us people some good

Sunday, Dec 28 at 7:39 PM Mel wrote ...

We need more competition. In Germany we have more than just one gas supplier. We should be able to choose who supplies our gas,electric just like we choose our cable,phone etc..

Sunday, Dec 28 at 7:38 PM Anonymous wrote ...

They always raise the price in the winter time when people use it due to the cold. isn't there a law?

Friday, Nov 21 at 1:06 AM Anonymous wrote ...

NIPSCO will make up any excuse to raise prices. They always have some lame excuse. Let's face it, they plan on getting richer while the rest of us get poorer and colder. I'd like to find a cheaper alternative to heating my home, because I'd change in a heartbeat.

Thursday, Nov 20 at 9:57 PM Anonymous wrote ...

NIPSCO will do what ever they feel like they always do. They do not care about anything but their money. Ask any senior who has gone without hot water the mother with the sick child and no heat or even some of our local agencys who try and work with them. Unless someone stops them legally we are out of luck

Thursday, Nov 20 at 9:31 AM tre wrote ...

How can NIPSCO charge 13% more this year when natural gas spot market prices are down from what they were this time a year ago? Doesn't make sense.

Wednesday, Nov 19 at 8:08 PM c wrote ...

Allways an excuse.

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