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
-
Racist flyers found scattered around Hamilton County
Numerous neighbors are taking action after dozens of racist flyers threatening deportation were found scattered across roads in Hamilton County.
University of Indianapolis launches new Behavioral Health Trauma certificate
The certificate specifically focuses on mental health professionals who plan to provide trauma counseling. It is obtained after three courses and nine total credit hours.
Josh Downs, Anthony Richardson team up to give Colts offense a jolt of energy
Indianapolis Colts receiver Josh Downs welcomed last week's announcement that Anthony Richardson would return as Indy's starting quarterback.
Barrett scores season-high 39 as Raptors snap losing streak, beat Pacers 130-119
Benedict Mathurin scored 17 of his 28 points in the fourth quarter and Pascal Siakam had 25 points and 10 rebounds against his former team as the Pacers lost for the third time in four games.
