(Michigan City, IN) - Michigan City Mayor Duane Parry is blasting a proposed settlement over an electric rate increase sought by NIPSCO, saying that the proposed settlement being considered by the Indiana Utility Regulatory Commission would increase rates by 10.5 percent for “already hard pressed” residential customers.

Originally, NIPSCO was seeking a 16.5 percent increase in electric rates.

Parry added that the proposed settlement agreement also adds 13-14 percent increases for small commercial and industrial businesses “who are trying to keep their heads above water.”

Parry said his office is working to bring in new and grow existing businesses yet NIPSCO’S electric rates for businesses are nearly twice as high as business rates for customers of Indiana Michigan Power. He also said NIPSCO ranks at the bottom in the Midwest for customer satisfaction in the latest J.D. Power surveys.

Parry is scheduled to testify before the IURC on Thursday.

“I look forward to standing up for our residential and business ratepayers at these hearings,” he said.