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
-
Cavs' Donovan Mitchell questionable for Game 5
Cavaliers star Donovan Mitchell is listed as questionable for Cleveland’s pivotal Game 5 of its second-round series against the Indiana Pacers after reaggravating a sprained left ankle.
City of Fishers grant helps HSE teachers innovate classrooms
This new round of grants from the City of Fishers brings the funding total to nearly $350,000 since the program launched last year. To date, 22 educators across 12 schools have received funding.
Indy Ignite finish debut season as PVF runner-up
They may not have reached their ultimate destination, but the journey was well worth the ride for the Indy Ignite.
ISP: Jackson County man sentenced in 1982 cold case homicide
Ronald J. Anderson, now 63 of Seymour, Indiana, was sentenced to 18 years for killing Clifford Smith in 1982 on Monday, Indiana State Police said.
