INDIANAPOLIS – Duke Energy customers will get a break on their bills starting in April.
The Indiana Utility Regulatory Commission (IURC) approved the utility company’s request for a 16% rate reduction. The average customer using 1,000 kWh per month will see their bill go down by about $26.
The 16% reduction will affect utility bills from April through June, Duke said.
The company filed its request for a fuel adjustment clause change on Jan. 31. The IURC previously approved Duke’s request for a 5% rate decrease for the January through March billing cycles.
Duke attributed the falling rates to a stabilization in the fuel market. Volatility in 2022 led to fluctuations in coal, natural gas and wholesale power prices, prompting Duke and other utility companies to request rate increases.
Utilities can adjust their rates every quarter to account for fluctuating fuel costs. Their requests to lower or raise rates must be approved by the IURC.
