MERRILLVILLE | A protest against state regulators' recent approval of an estimated 10 percent hike in NIPSCO residential electric rates drew only three protesters to the utility company's gate today.

Two members of Concerned Citizens Against Violence and Calumet Township Board Chairman Ron Matlock did draw some supportive horn honking from drivers on East 86th Avenue.

"NiSource is about greed, folks," Concerned Citizens Against Violence President Dwight Taylor yelled through a megaphone.

In a scene reminiscent of filmmaker Michael Moore, Taylor launched verbal volleys toward the building housing the headquarters of NIPSCO and its parent company NiSource Inc. Most berated NiSource CEO Robert Skaggs Jr. for his $4.1 million pay package in 2009.

The small protest was in contrast to one in March 2009, which drew about 600 people to a state hearing at Indiana University Northwest on NIPSCO's then-pending request for an increase in its electric rates.

NIPSCO tried to contact Taylor before the protest to hear his concerns, but received no response, according to NIPSCO spokesman Nick Meyer.

NIPSCO sought its rate increase to meet increased costs, the recent purchase of an environmentally-friendly power plant, and to ensure the utility can offer companies quality electric service so they can locate in Northwest Indiana, Meyer said.

"With regards to the increase, we certainly realize any increase to customer bills can be challenging at this time," Meyer said. "That's why we continue to focus on programs that can help customers with their bills."

Concerning Skaggs pay, Meyer said it still ranks below that of 50 percent of CEO's at companies of similar size.

The Indiana Utility Regulatory Commission in its order last week authorized a 4 percent overall increase in NIPSCO base rates and the termination of a $55 million per year bill credit customers receive. That will add up to an approximately 10 percent increase in residential electric rates, the IURC said.