Duke Energy has requested that the Indiana Utility Regulatory Commission approve a 16% increase in what it charges customers. It will go into effect starting in July, if approved.
Four times a year, utility companies across the state talk to the IURC about the prices they feel companies should be paying.
Since the company says it is seeing a large increase in its fuel costs, that has led it to ask for a rate increase. But Duke says the increase won’t be permanent. If approved, this 16% rate increase would likely go into effect starting in July and last until September. As for whether customers will see relief as we head into fall, likely not.
Duke Energy says it doesn't make a profit off fuel costs and the increase is due to higher costs of power. The company does turn a profit, but Duke says that profit is a fixed rate determined by the IURC.Duke Energy says if customers are having a hard time paying their bills, the company has resources available.
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