The price NIPSCO charges residential customers for natural gas will go up 14.8 percent this month, following a nationwide spike in natural gas prices.

It is the fourth consecutive month NIPSCO's fee has increased by double digits.

Last week, the U.S. Energy Information Agency announced natural gas prices nationwide had broken historical records, surpassing even those in the wake of Hurricane Katrina in 2005.

Mike Watson, vice president of energy supply services for NiSource, the parent company of NIPSCO, told state regulators last week that natural gas has "piggybacked" on the precipitous rise in crude oil prices and he doesn't foresee a decline before next spring.

The U.S. Energy Information Agency is predicting this winter's natural gas prices will be a whopping 52 percent higher than last winter's, when prices averaged $7.17 per thousand cubic feet.

A weekly natural gas update from the agency last week pinned much of the blame on increased investments in commodities by speculators and others.

The report noted since the beginning of the year the price of natural gas has increased 63 percent at a key transmission hub.

Such utilities as NIPSCO pass increases in wholesale prices along to customers through a monthly cost adjustment approved by state regulators.

A typical NIPSCO customer using 50 therms of natural gas this month will see an increase of $14.42 in the NIPSCO bill. Actual increases for individual customers will depend on use.

CLARIFICATION

Natural gas prices for NIPSCO residential customers will increase 14.8 percent this month, which will increase a typical bill by $14.42. The hike affects only the gas supply portion of a customer's bill. The other components of a NIPSCO gas bill are a gas delivery charge and state and local taxes.