Office of Utility calls for cutting Duke Energy rate hike by more than 60%

Cut down pending rate request

INDIANAPOLIS — The Indiana Office of Utility is recommending Duke Energy cut down on its pending rate request by more than 60%.

According to a release, Duke Energy requests a $491.5 million base rate increase from the Indiana Utility Regulatory Commission. An analysis from the OUCC shows that an increase of $184.7 million (6.1%) is warranted.

Ten OUCC witnesses this week filed testimony with the IURC. In the testimony notes, the most of the increase requested is due to capital projects that received IURC preapproval, and are now being included in rates as is provided by state law.

“The significant reduction we recommend to Duke Energy’s request is based on a thorough analysis by our attorneys and technical staff, and it balances the need for reliable service with the affordability concerns raised by our staff and by the hundreds of customers who have spoken out on the request,” said Indiana Utility Consumer Counselor Bill Fine.