The Indiana Office of Utility Consumer Counselor (OUCC) is recommending Duke Energy cut it’s Indiana rate increase request by more than 60 percent.
In April, the power company filed the request with the Indiana Utility Regulatory Commission (IURC), asking for approval to raise energy bills by 16% in Indiana.
“The significant reduction we recommend to Duke Energy’s request is based on a thorough analysis by our attorneys and technical staff, and it balances the need for reliable service with the affordability concerns raised by our staff and by the hundreds of customers who have spoken out on the request,” said Indiana Utility Consumer Counselor Bill Fine.
OUCC claims an analysis shows a six-percent increase would be warranted. That would bring the expected revenue increase for Duke down to $185 million from $492 million.
Electricity bills are dependent on consumption by each customer, but Duke predicts that monthly electric bills would cost $27.63 more each month under their 16 percent increase request.
The company said additional revenue would be invested in modernizations to the electric grid and security and hundreds of miles of new power lines.
An IURC hearing is scheduled for Aug. 29. A final decision from the commission is expected in early 2025.
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.
