State Regulators Approve Two-Part Duke Energy Rate Raise

Many Hoosiers may see their energy bills go up soon. Duke Energy had asked state regulators for a rate hike in April of last year. On Wednesday they finally got their answer. The state has granted Duke it’s request, which will soon increase what many of you will pay for power by around 20-bucks a month starting in March and then another 7-dollars on top of that by March of 2026.
In total, Duke is expected to make an extra 400-million dollars due to the rate hike. They say they need the extra cash due to efforts to move away from coal and to continue investments in cleaner energy generation. One of the clean energy initiatives is the coal-gasification power plant at Edwardsport. That plant takes coal and converts it to natural gas for use in electricity generation.