Planning for the future while being ready for the present, NIPSCO is hard at work on its 2024 Integrated Resource Plan.
Integrated Resource Plans are submitted to the State of Indiana as an ongoing process. This work is intended to ensure Indiana residents have access to safe, affordable, and reliable energy.
“An Integrated Resource Plan is required, at a minimum, every three years,” said Fred Gomos, NiSource director of strategy and risk integration.
To begin each planning cycle, Gomos and his colleagues begin by looking both internally and externally throughout the industry.
“We start internally with planning objectives and determining what questions we're trying to solve,” said Gomos. “That process begins probably nine months before we begin. To start, we scan the industry for issues and adjust for new rules.”
Over the last several decades, the key points of an Integrated Resource Plan have changed. Today, the focus has shifted to the large demand for energy sweeping across the country.
“Today’s questions are really about the reliability of the system,” said Gomos. “We haven't seen this high of demand or growth in energy use since 2000, so now the question is ‘How do you serve new loads?’”
Making sure to involve all impacted parties, NIPSCO’s planning process is purposefully transparent and open.
“A large part of that process is stakeholder engagement,” said Gomos. “We hold meetings with key stakeholders and members of the community in a public forum.”
The first stakeholder meeting was held on April 23 and discussed the roadmap of the entire Integrated Resource Plan process.
Upcoming meetings will walk community members through scenarios and simulations that evaluate NIPSCO’s performance under different conditions.
“In a simulation, you ‘run’ like you would for 20 years and see how the energy demand changes,” said Gomos. “After we aggregate the information, we can determine what next steps we would take.”
Providing these informed scenarios allows NIPSCO to include multiple elements in its Integrated Resource Plan. These can include purchasing new assets or focusing on renewables.
Each scenario is then scored for evaluation by NIPSCO executives and for input from stakeholders.
“Using this approach, we can advocate for portfolios with the lowest costs for customers that minimize risk and create different sorts of value,” said Gomos.
Future meetings are listed on NIPSCO’s website. In addition to meeting dates and times, all meeting agendas and documents are also posted.
“The entire Integrated Resource Plan process is about determining how we can best bring value to our customers reliably and safely,” said Tara McElmurry, NIPSCO communications manager. “We are going through this process thoughtfully.”
Using the remainder of the year to plan, share, and predict, NIPSCO hopes to have a finalized Integrated Resource Plan by the end of 2024.
“There are many steps, there are many perspectives, and there are many models to take into account,” said McElmurry. “We want to take our time to take a step back and make sure our path forward is still the correct path forward.”
To learn more about NIPSCO’s Integrated Resource Plan, please visit nipsco.com.