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
-
Butler cruises to 81-70 victory over SMU
Butler hands Southern Methodist its first loss of the season on Friday night Historic Hinkle Fieldhouse.
No. 13 Purdue rediscovers strong post presence in win over No. 2 Alabama
Purdue’s plan post-Edey doesn’t appear to have changed much. It still centers around a hefty dose of getting the ball into the paint - as Alabama coach Nate Oats learned again Friday night.
Hundreds of local students go holiday shopping for kids in need
Hundreds of local students have already done some holiday shopping, but they won’t be taking the gifts home. They’ll be giving them to local families and kids in need.
Drug overdose deaths down in U.S. for first time since 2018
The U.S. saw a 14.5 percent decline in drug overdose death in the last year. Marion County also saw fewer overall overdose deaths.
