Statewide—Duke Energy is proposing a 15 percent rate increase for its Indiana customers. Customers got their first chance to voice their opinions and give feedback on the potential hike during Monday night’s Indiana Utility Regulatory Commission public hearing inside Carmel High School’s auditorium.
The request is for an overall average rate increase of approximately 15% averaged across all customer groups. If approved, the new rates will be phased in over two years, with a proposed 13% increase in 2020 and a 2% increase in 2021. Timing will depend on state regulatory commission approval. The rate hike would result in a $395 million increase in annual revenue.
Duke officials said the extra money would allow the company to accelerate the retirement of some of its coal-fired power plants and add more natural gas and renewable energy sources. The Regulatory Commission’s next meeting on the proposed Duke Energy rate hike will be Sept. 23 in Terre Haute.