Duke Energy Indiana wants to spend about $1.9 billion to upgrade its electric grid, a move it says would result in few and shorter power outages and would harden the grid against severe weather.
Indiana regulators cut Duke Energy’s proposed rate hike by 60%
The Indiana Utility Regulatory Commission ruled Monday that Duke Energy, the state’s largest electricity provider, could collect an additional $146 million a year from customers. That’s down sharply from Duke Energy’s original request.Read More
Bill Fine, the Indiana Utility Consumer Counselor, wrote in a filing that “after receiving base rate increases in 2018 and 2020, I&M has not made the case for this increase at this time.”
The utility wants permission to pass along the cost of those incentives to all of its 500,000 customers in the state in the form of higher rates in coming years, whether or not they drive an electric vehicle.
More than 2,300 people have complained by email to the Indiana Utility Consumer Counselor, which is on track to become the largest number of complaints for any single case in at least a decade.
Fishers Mayor Scott Fadness isn’t the first person to bash the utilities and the Indiana Utility Regulatory Commission over the matter. Thousands of consumers have written letters and emails protesting the request.
IPL said a typical household customer would likely pay an extra $1.50 a month in the first year. That monthly amount would increase by $1.50 each year, or by a total of $10.50 a month by the seventh year.
An energy cooperative announced Tuesday it will close a southwestern Indiana power plant in 2023, affecting 185 workers.
It’s an unusual rebuke from the Utility Consumer Counselor Bill Fine, who often recommends that state regulators cut a utility’s proposed rate increase, but rarely says the entire hike should be denied.
Although the petition doesn’t say how much the utility will seek from customers, a Vectren spokeswoman said the project will cost $164 million.
The monthly rate increases, if granted by state regulators, would likely be about $1.50 for the typical household customer in the first year. That monthly amount would increase by an additional $1.50 each year, or by about $10.50 over the seven years.
More than 800,000 customers of Duke Energy Indiana could see their monthly bills jump if the utility receives state permission to increase rates for the first time in about 15 years.
The utility, with more than 300,000 customers in central Indiana, announced a settlement agreement Tuesday with consumer groups.
The utility is seeking a nearly 17 percent rate increase to help pay for more than $542 million of infrastructure investments.
State regulators approved a 30 percent increase from Citizens in 2016. The utility now says it needs to raise rates to continue funding its massive DigIndy tunnel system project.
Indiana American Water, which provides water services to 1.3 million people in Indiana, has requested a nearly 17 percent rate increase.
The company said the Indiana Utility Regulatory Commission on Tuesday approved the final phase of an agreement with various consumer groups to reflect decreases in rates as a result of the federal tax overhaul last year.
The amount of savings under the agreement approved by the Indiana Utility Regulatory Commission will vary by customer. Duke Energy credits the federal tax overhaul for the rate reduction.
Citizens Action Coalition of Indiana says Duke Energy’s controversial Edwardsport plant has suffered repeated outages and failed to live up to its promises, costing ratepayers more than $1 billion in unneeded fees.
Indiana American Water, which serves about 1.3 million people, estimates it will replace all lead service lines by no later than 2042 and possibly as soon as 2028.