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
-
Man shot, killed on Indy's near north side; suspect detained
A man was shot and killed on the near north side of Indianapolis early Saturday morning and police said a suspect was detained.A sellout for a WNBA exhibition game? Welcome to the league's Caitlin Clark era
Fans were lined outside the arena more than three hours before Caitlin Clark made her WNBA debut with the Indiana Fever in an exhibition game against the Dallas Wings on Friday night.Affordable Connectivity Program runs out impacting 423,000 Hoosier households
Funding for the Affordable Connectivity Program has run out. Now 423,000 Hoosier Households will see their internet bills increase.Family, friends remember deaf man killed in road rage shooting
Ryan’s family and friends spoke to WRTV on Friday through a sign language interpreter. Family tells WRTV that Ryan was deaf.