Stop NIPSCO’s Outrageous Rate Hikes Across Indiana — Cap Profits, Not People

To the Indiana Utility Regulatory Commission, Governor Mike Braun, and Our Elected Leaders:
We, the undersigned residents of Indiana, demand immediate action to stop the exploitation of working families by NIPSCO and its parent company, NiSource Inc.

Over the past two years, utility bills across Indiana have spiked — with official increases ranging from 17% to 25%. But for many of us, it’s been far worse.
Two years ago, my NIPSCO bill was $350. Last year, it rose to $450.
Now, starting July, they want $660 per month on their budget plan.

This isn’t just inflation — our usage didn’t double. The rates did.
This is a monopoly, rubber-stamped by state regulators, draining working-class families to feed corporate profit.

 
THE FACTS:
NiSource profit in 2024: $739.7 million
CEO Lloyd Yates’ pay in 2024: $12.78 million
Dividends paid to shareholders: $1.06 per share (~58% of profits)
Total shareholder return: +43% (94th percentile)
Capital investment plan: $16–19 billion — fully funded by customer bills
IURC-approved electric rate hike: $257 million/year
Average customer usage assumed: 668–672 kWh/month
My household usage: 1,600–3,200 kWh/month — punished by the rate structure
Fair profit margin for a utility: 6–10%
Actual profit margin made by NiSource: 13.6%
 
WE DEMAND:
A freeze on further rate hikes until an independent affordability audit is completed.
A cap on utility profit margins: no more than 10%.
Executive pay tied to affordability and customer service — not just shareholder returns.
Rebates for excess profits: if profits exceed reasonable thresholds, give back to customers.
A full investigation into IURC conflicts of interest.
An exploration of public or community-owned utility options to ensure fairness.
 
This is a call for justice, not revenge.
We’re not asking for handouts — we’re asking for fairness.
If we can’t choose our energy provider, then we demand protection from corporate greed.

Signed below by residents who refuse to be silent.

 
🧭 A NOTE TO OTHER STATES:
NiSource doesn’t just serve Indiana. It also owns and operates Columbia Gas in Ohio, Pennsylvania, Virginia, Kentucky, and Maryland — providing natural gas to over 3.3 million customers nationwide.

If you live in one of these states and your rates have gone up too, you’re likely helping fuel NiSource’s massive profits.

We invite residents in other states to start petitions, share your stories, and help build a multi-state utility justice movement.

It starts in Indiana — but it won’t stop here.