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Duke Energy Improvement Plan Will Mean Rate Hike

Duke Energy is set to undertake a major improvement plan.

The $1.9 billion project will provide upgrades to their technology and infrastructure.

The payoff is more reliable power with fewer outages and the ability to pinpoint problems more quickly plus the ability to read meters instantly.

This will mean a rate increase that will need the approval of the Indiana Utility Regulatory Commission.

If the plan is approved, customers would see a gradual rate increase of about one percent each year between 2016 and 2022.

The IURC should rule by next spring. The project should generate more than 5,000 temporary jobs in Indiana over the seven year period.

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