EXHIBIT 23

                    CONSENT OF INDEPENDENT PUBLIC ACCOUNTANTS

     As independent public  accountants,  we hereby consent to the incorporation
of our  report  included  in this Form  10-Q,  into  NIPSCO  Industries,  Inc.'s
previously  filed  Form  S-8  Registration  Statement  No.  33-30619;  Form  S-8
Registration  Statement  No.  33-30621;  Forms S-8  Registration  Statement  No.
333-08263;  Form S-8 Registration Statement No. 333-19981; Form S-8 Registration
Statement No. 333-19983; Form S-8 Registration Statement No. 333-19985; Form S-8
Registration  Statement  No.  333-59151;  Form S-8  Registration  Statement  No.
333-59153;  Form S-3 Registration Statement No. 333-22347; Form S-3 Registration
Statement No. 333-26847; Form S-3 Registration Statement No. 333-39911, and Form
S-4A Registration Statement No. 333-50537.


                           /s/ Arthur Andersen LLP


Chicago, Illinois
August   , 1998