EVANSVILLE, Ind. (WEHT) – Evansville residents might be getting closer to lower CenterPoint bills.

CenterPoint Energy, Inc., has asked the Indiana Utility Regulatory Commission (IURC) for securitization of assets of its A.B. Brown coal plant, which should result in a decrease to customers’ electric bills by an estimated $60 million. CenterPoint Energy plans to retire the A.B. Brown coal plant in late 2023 as part of its long-term electric generation transition plan.

CenterPoint Energy will be the first utility to utilize securitization in Indiana. Securitization is an established practice that has saved utility customers billions of dollars in nearly 30 states.

“Securitization allows us to reinvest in our state and provides a catalyst for the continued growth of renewable energy in Indiana,” said Steve Greenley, Senior Vice President of Generation Development for CenterPoint Energy. “The increasing use of renewable energy for CenterPoint Energy Indiana South’s generation is also expected to attract new economic development in Indiana, especially from companies with environmental and sustainability goals.”

CenterPoint Energy plans to reinvest the money into its generation transition plan and invest in renewable resources such as wind- and solar-powered generation and battery storage, which will be backed up by planned natural gas generation resources to maintain reliability.

We spoke with CenterPoint and they told us if this went though, the average customer could save $5 a month on their bill.

For more information on CenterPoint Energy’s long-term electric generation transition plan, please visit this website.