Under the terms of the settlement agreement, refunds totaling $33 million are going out to NIPSCO electric customers. It is estimated that on bills for February, March and April 2008, an average household consumer is getting a credit of $5 a month, or 6 to 7% of the customer's electric costs. Company officials claimed that businesses that are especially heavy users of electricity are seeing refunds of several thousands of dollars. City sources said that the refund was based on the amount of higher-priced outside energy bought by NIPSCO in 2006 and through much of 2007. More important than the rebates is the benchmarks that sprung from the settlement requiring NIPSCO to now buy electricity at the lowest possible price. [
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Last updated on Mar-10-08