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Duke Energy proposing 6% price hike for customers by 2029

Duke Energy proposing 6% price hike for customers by 2029
Published: Nov. 26, 2021 at 3:24 PM CST
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INDIANA (WFIE) - Indiana’s largest electric utility is seeking regulatory approval to raise its rates by 1% every year until 2029.

Duke Energy says it’s set to pay for a $1.9 billion upgrade aimed at hardening its electric grid against severe weather. The electric utility company is looking to pass along much of the upgrade’s cost to its Indiana customers.

Indianapolis Business Journal reports if this proposal is approved by the Indiana Utility Regulatory Commission, customers would see rates increase around 6% by 2029.

Duke Energy is Indiana’s largest electric provider with about 860,000 customers, spread across 69 of the state’s 92 counties.

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