INDIANAPOLIS – Duke Energy customers in Indiana can expect their bills to increase soon.
Recently, the Indiana Utility Regulatory Commission (URC) approved a request from Duke Energy for a rate hike that equated to roughly a 16% increase for residential customers.
Duke applied for the rate change in April and the rate change will take effect in July and last through September.
In a statement to WRTV, Duke Energy said the change is due to the high sustained prices for fuel.
Duke Energy is seeing the highest sustained prices for fuel that we have witnessed in a decade. Global demand and tight fuel supplies as well as labor shortages at coal mines and railroads are affecting the cost of the power we produce as well as what we purchase in the energy markets. These are not permanent rate increases. Fuel costs rise and fall, and we pass those costs to our customers with no profit, so customers pay what we pay. Our priority is to purchase fuel at the best possible price, through steps such as long-term contracts and using a diversity of suppliers.
To lessen the impact on customer bills, we are spreading recovery of some of these fuel costs over a longer period to reduce the rate impact. If you are struggling financially to pay your electric bill, contact us at 800.521.2232. We can discuss payment plans and resources for help.
Duke Energy
A Duke Energy spokesperson also emphasized that the rate increase is not permanent. Rates rise and lower based on fuel costs and the rates are adjusted four times per year.
Latest Stories
-
Retailers say they're ready for potential Trump tariffs
President-elect Trump is promising major tariffs that could impact retailers and their consumers. Here's how businesses say they may have to change their operations.
It's been 278 days without measurable snow in Indy; this changes Thursday.
It's been a while since Indy has seen snow, so here are a few reminders, specifically relating to your car.
Johnson County mom pushing for cameras in daycare facilities
Rachel Drabick's daughter suffered a fractured femur in the care of her babysitter. So, she created a petition to implement mandatory surveillance cameras in childcare facilities.
Grow With Us Initiative aims to grow agricultural education across Indiana
According to the state, there are 350 career opportunities in agriculture. Many of those jobs are in high demand.
