When I read about NIPSCO seeking yet again another round of rate hikes, it made my blood boil.
The top five executives of NiSource, including the CEO of NIPSCO, will earn total combined compensation in excess of $13 million in fiscal 2013. NiSource earnings were between $410 million and $427 million in 2012, depending on how you look at it.
According to a recent article, they are requesting 5 percent to 6 percent in rate increases, over time, through 2020 to pay for infrastructure upgrades.
It's a given they will receive full approval for these increases, and once again the consumer will foot the bill. The middle class, what's left of it anyway, not to mention everyone else in poverty, cannot afford this type of gouging.
We will be left wondering if we dare raise the thermostat above 60 degrees in the winter, or enjoy yet another can of lowly cat food! Once they realize efficiencies from upgraded equipment, will consumer rates go down?
- Loren Gualandri, Schererville