Duke Energy Wants You To Pay At Least $23 More Each Month For Your Electricity!
Duke Energy wants to hike your bill by 19%, or $23 per month, and they want you to pay for the Edwardsport IGCC boondoggle until 2045!
Duke Energy has filed for a rate hike with the Indiana Utility Regulatory Commission (IURC). They want to raise your electric bill by 19%, which amounts to a monthly bill increase of nearly $23 for an average Duke residential customer.
Additionally, Duke wants the IURC to force you to continue to overpay for the Edwardsport Integrated Gasification Combined Cycle (IGCC) coal-fired power plant for the next 26 years!
Duke Energy has been raking in enormous profits in recent years. They had a net income of $3.1 BILLION in 2017 and $2.7 BILLION in 2018. In the first quarter of 2019 alone, Duke Energy’s net income was nearly $1 BILLION. At the same time, Hoosier households continue to struggle with declining and stagnant income and wages, and significant increases in the cost of energy, health care, food, and other necessities.
It is Duke Energy’s customers who need relief, not the monopoly utility that is raking in profits hand-over-fist.
In this rate case, Duke Energy wants to force those who use less energy to pay more on their bills. They are requesting to continue using a billing mechanism called declining block pricing, which literally charges customers who use less electricity more per kilowatt hour (kWh).
Hoosiers are becoming more adept at controlling their energy costs through a variety of mechanisms - energy efficiency, energy conservation, installing renewable resources, etc. Duke Energy is frustrated because this means they’re selling less energy and not making as much profit as they want to.
Duke Energy wants to steal the economic benefit of using less energy by charging you more for using less. By sending the wrong price signals to customers, the use of declining block rates runs counter to the long-standing principle of conservation and encouraging businesses and households to be more energy efficient.
Duke Energy Bill Comparison:
for the average customer using 1,000 kWh (kilowatt hours) of electricity per month
|Current Total Bill||Proposed Total Bill|
|Charges & Rates||Total Bill||Charges & Rates||Total Bill|
|per kWh rate, first 300:||$0.089116||$26.73||$0.150893||$45.27|
|per kWh rate, 301 to 1,000:||$0.051948||$36.36||$0.122344||$85.64|
|per kWh rate, over 1,000:||$0.042634||$0.00||$0.110347||$0.00|
|Trackers per kWh:||$0.048188||$48.19||$0.002242||$2.24|
Edwardsport IGCC coal-fired power plant: customers continue to overpay.
Duke Energy’s Edwardsport IGCC (Integrated Gasification Combined-Cycle) coal-fired power plant was declared “in-service” by Duke in June 2013, and has now been operating for over 6 years. To get approval to build the plant in 2007, Duke promised legislators and regulators a price tag of $1.9 BILLION, but the final price ballooned to over $3.5 BILLION.
Over the last 10 years, Duke Energy customers have been forced to pay over $2.5 BILLION for the Edwardsport rip off. For years, the average Duke customer has been shaken down for about $14 each month for this power plant. And with this rate case, Duke Energy now wants regulators to force you to continue paying for this obscenely overpriced power plant until 2045.
Visit https://www.citact.org/energy-policy-fossil-fuels-and-nuclear-energy-utility-rates-and-regulation-duke-energy/2018-duke-edwardsport to learn more about the history of the Edwardsport IGCC coal-fired power plant boondoggle.
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