The Indiana Utility Regulatory Commission approved a rate increase request from Duke Energy, although it is for less than the energy company had requested.
IURC is allowing Duke Energy to raise Indiana customer rates to total out to $395 million, about $100 million less than the $492 million increase requested last April.
At the time of the request, Duke Energy said the additional revenue would be invested in modernizations to the electric grid and security and hundreds of miles of new power lines. The company also proposed voluntary time-of-use rates, which would allow Duke Energy customers to shift power use to times of the day when energy costs are lower.
In July, the Indiana Office of Utility Consumer Counselor (OUCC) reccomended Duke Energy cut the increase request by more than 60 percent. The rate approved by the IURC is only about 20 percent less than the original request.
It is unclear how much of an increase the new rate would cause monthly bills. The original rate request would've made energy bills go up 12% in 2025, and then an additional 4% in 2026.
Duke Energy is an electric utility company based in North Carolina, and is one of the country’s largest energy companies, serving nearly 8.5 million people across six states, according to Duke Energy’s website. In Indiana, there are more than 900-thousand customers.
