Northern Indiana Public Service Company has agreed to refund 34 million dollars to electric customers. It's part of a settlement of LaPorte County's challenge of how the company charges for power it buys on the open market.

If the settlement is approved by the Indiana Utility Regulatory Commission, a typical NIPSCO customer would receive $5 credits on February, March and April bills.

The settlement also requires NIPSCO to purchase outside energy at the lowest possible price.

NIPSCO serves about 450,000 customers in the northern third of Indiana.