NIPSCO forecasts slight rise in winter heating bills

2013-10-08T14:00:00Z 2014-01-28T14:14:10Z NIPSCO forecasts slight rise in winter heating billsBy Keith Benman, (219) 933-3326

NIPSCO forecasts customers will only see about a 1 percent increase in natural gas prices this winter, leading to only a moderate increase in winter heating bills.

An average customer using about 624 therms total during the winter heating season would pay about $437 this year for the five winter heating months as opposed to $433 last winter, according to the NIPSCO forecast.

“The outlook on natural gas prices and domestic supplies remain stable for the foreseeable future, which is great news as we head toward the winter heating season," said NIPSCO Chief Executive Jim Stanley.

The winter heating season runs November through March. Actual bills are dependent on an individual customer's usage, which often is determined by the severity of the winter weather.

With natural gas prices hovering around historic lows for much of this year and 2012 on the wholesale market, natural gas customers across the nation have been getting a break on winter heating bills.

The U.S. Department of Energy on Tuesday forecast households using natural gas for heating will see bills about 13 percent higher this winter than last. That will still be about 4 percent below the average for the previous five winters.

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