Duke Energy proposes 15% electric rate increase

Local News

PLAINFIELD, Ind. (WEHT) – Some Hoosiers will have to dig deeper into their pockets to pay their electric bills if Duke Energy gets its way.

The energy company is proposing a 15% electric rate increase for Indiana customers.

That translates into a $23 monthly rate increase for the average user.

Duke said the increase is necessary to meet rising business costs and to pay for future regulations on greenhouse gases.

The filing with the Indiana Utility Regulatory Commission requests to increase annualized revenue by approximately $395 million, for an overall average rate increase of about 15% for all customers.

If approved, the increase will be added to bills in two steps, approximately 13% in mid-2020 and 2% in 2021, Duke said.

To help customers save on electric bills, the company proposed a pilot program with time-of-use rates where customers can lower bills on high power demand by shifting power usage to times of day when it’s less expensive.

The company said its overall average electric rate is currently below state, regional, and national averages – even being the lowest electric rate average in Indiana.

Last week, Duke Energy announced plans to phase out its coal-fired units in Gibson County over the next 20 years.

State regulators must approve the rate increase before it goes into effect.

For the latest breaking news and stories from across the
Tri-State, follow Eyewitness News on Facebook and Twitter.

This story was originally published on July 2, 2019

Copyright 2020 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.