A payment option being offered by NIPSCO could help its customers budget better.
Natural gas prices often fluctuate depending on the weather and current events, but the Price Protection Service allows customers to lock in their commodity rate for an entire year.
Right now, that rate is about $0.55 per therm.
While energy prices may fluctuate during the one-year time period, customers enrolled in the Price Protection Service won’t see any increase in their per therm rate.
NIPSCO has been sending letters to its customers to tell them about the plan.
It’s open to any NIPSCO customer and can be opted into at any time.
“A lot of services that are provided it is a flat monthly bill,” said NIPSCO Communications Specialist Kathleen Szot. “That’s not the case for your energy bill – it’s really dependent on your habits and usage at home. While there are a lot more variables with your energy bill, this program allows customers to have a little bit more stability and a little bit more predictability when they open that envelope.”
After opting in, customers have five days to terminate the plan without any penalty. After that, there is a fee to get out of the 12-month program early.
To sign up for the Price Protection Service, contact NIPSCO.