Indianapolis, Indiana – Beginning in April, Duke Energy customers will receive a discount on their bills.
The utility company’s request for a 16% rate cut was granted by the Indiana Utilities Regulatory Commission (IURC). The average customer’s monthly price will decrease by roughly $26 if they use 1,000 kWh.
According to Duke, the 16% cut will have an impact on utility costs from April through June.
On January 31, the corporation submitted its request for a fuel adjustment clause amendment. Prior to this, the IURC had granted Duke’s request for a 5% rate cut for the billing cycles from January through March.
Duke attributed the falling rates to the fuel market’s stabilization. The price of coal, natural gas, and wholesale electricity fluctuated in 2022, which prompted Duke and other utility providers to ask for rate increases.
Every three months, utilities can increase their rates to reflect changing fuel prices. The IURC must approve their petitions to change or increase rates.
