INDIANAPOLIS (AP) — Indiana regulators have rejected Duke Energy’s request for a rate increase it sought to pass on nearly $2 billion to ratepayers for the costs of a planned electrical grid upgrade.
The Indiana Utility Regulatory Commission on Friday also denied a similar request by Indiana Michigan Power in a separate ruling.
Utility Consumer Counselor David Stippler called the two rulings “significant victories for consumers.”
The Indianapolis Business Journal reports consumer advocates argued Duke’s transmission and distribution system improvement plan went beyond what’s allowed by law.
Duke spokeswoman Angeline Protogere says the utility is still reviewing the IURC order but one option it might pursue is to file a revised plan and address issues the IURC raised.
Protogere says Duke’s “electric grid is aging” and many components need updated and replaced.