INDIANA – Duke Energy customers in the region are bracing for increased electricity costs as an 8% rate hike takes effect, with an additional 3% increase slated for the following year.
The rate adjustments, approved by state regulators, are projected to generate approximately $295 million in additional revenue for the energy provider. Duke Energy asserts that these funds are essential for bolstering the power grid, enhancing service reliability, and expanding infrastructure to meet growing demands.
According to Duke Energy, the investments facilitated by the rate increase will contribute to a more robust and dependable energy network. The company also emphasizes that, even with the adjustments, their rates will remain competitive compared to those of similar utilities in neighboring states.
In addition to the current rate adjustments, Duke Energy has filed a Certificate of Public Convenience and Necessity with state regulatory bodies. This filing potentially signals the company’s intent to pursue further rate adjustments in the future as it continues to invest in and modernize its infrastructure.
Consumers are advised to note these changes and consider energy-saving measures to mitigate the impact of rising costs. Duke Energy also provides information on its website concerning programs that help customers manage their energy usage.
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