INDIANAPOLIS – Duke Energy would like to increase customers’ bills by about 16%. The proposal was recently filed with the Indiana Utility Regulatory Commission.
If approved, Duke users would notice a 12% bill increase next year, followed by an additional 4% increase in 2026. The utility states that the increase will vary depending on the cost to service different types of customers.
The increase would mean $492 million more to the company’s annual revenue. Duke Energy Indiana President Stan Pinegar said, “Since our last base rate increase in 2020, we’ve invested $1.6 billion in our electric grid, power plants, and overall system on behalf of our customers.”
Pinegar also noted that residential customer bills are down roughly 25% than they were at the end of 2022 due to the decline of fuel costs for electricity production,
The final decision on the proposed rate hike will most likely come in early 2025.
