PLAINFIELD – On March 29, the Indiana Utility Regulatory Commission approved Duke Energy Indiana’s request to lower bills due to declining fuel and purchased power costs.
For an average residential Duke Energy customer in Indiana using 1,000 kilowatt-hours a month, it means a decrease of approximately 16% over rates today, or $26 a month, according to a news release from the company. That is on top of a 5% decrease that went into effect in January.
Customer electric bills were higher in 2022 primarily due to soaring fuel costs that affected the cost of power utilities produced as well as what they purchased on the energy markets. A number of unique events drove up fuel costs – from volatility in the energy markets worldwide to labor shortages at railroads that delivered fuel.
The decrease will be in effect April-June.