Duke Energy customers will again feel the squeeze.
The Indiana Utility Regulatory Commission approved the utility’s request for a 7.2% rate hike, Duke’s second in a matter of months. The change goes into effect in October.
Duke asked for the rate hike based on a fuel adjustment charge (FAC), citing higher-than-expected fuel costs that were not in line with the company’s previous cost projections.
On average, customers will see an impact of $11.71 on their bills. This comes after Duke asked for—and the IURC approved—a rate increase that went into effect in July. That request included a 16% rate hike.
A residential customer who’s paying $163.53 a month will pay $175.24 under the increase. Commercial customers will see bills go up about 8.8%, while industrial customers will see about a 10.7% hike.
It will affect bills in October, November and December, according to the IURC.
Duke asked the IURC to spread the increase over six months to reduce the immediate impact on customers. The utility company said the increases are not permanent.
The rate increases mean Duke customers are paying about 30% more when compared to a year ago.