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Duke Energy customers to see bills decrease by 16%

Average customers will see a $26 decrease in their monthly bills from April through June
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Posted at 4:23 PM, Mar 30, 2023

INDIANAPOLIS — One week after AES filed to reduce rates for customers, Duke Energy has done the same thing.

The Indiana Utility Regulatory Commission (IURC) approved Duke’s request to lower bills by 16%.

According to the company, average residential customers use about 1,000 kWh per month and will see their bill decrease by $26. The decrease will be in effect from April through June.

Duke says the reason for the decrease is fluctuating fuel costs. Electric bills in 2022 were higher due to an increase in fuel that affected the cost of power utilities.

“Fuel and purchased power can account for as much as 25% to 45% of an average residential customer’s bill, so when the markets are volatile, it can have a big impact on energy bills,” said Duke Energy Indiana President Stan Pinegar. “We’re starting to see costs stabilize, and the Indiana Utility Regulatory Commission has approved our request to pass those savings along to customers.”

This is the second rate decrease Duke Energy has filed for this year.

The first decrease of 5.5% was approved for Jan. through March.