Source: (PHOTO: Cristina Arias/Cover/Getty Images)
PLAINFIELD, Ind.–The Indiana Utility Regulatory Commission has approved Duke Energy’s request to lower bills for its customers in Indiana. The approval was made Wednesday.
If you’re a Duke Energy customer, that means your bill will drop by 16% or roughly $26 per month. That is on top of a 5% decrease that went into effect in January.
“We did this because of declining fuel and purchased power costs. While energy markets are still volatile, we’re starting to see costs stabilize, so we’re glad to be able to pass those savings onto our customers. It’s important to know that the customers pay what we pay,” said Duke Energy Spokeswoman McKenzie Barbknecht.
The decrease will be in effect from April through June. Then Duke Energy and state regulators will evaluate the status of the energy markets and fuel costs to determine where prices go from there.
“That process typically happens four times a year,” said Barbknecht.
Electric bills were higher in 2022 primarily because of high fuel costs that affected the cost of power utilities produced as well as what they purchased on the energy markets.
