FOR IMMEDIATE RELEASE:  May 23, 2024

Contacts:

Kerwin Olson, Executive Director – (317) 735-7727, kolson@citact.org 

Ben Inskeep, Program Director – (317) 735-7741, binskeep@citact.org 

INDIANAPOLIS – Citizens Action Coalition (“CAC”) declares its opposition to the proposed settlement filed on Monday before the Indiana Utility Regulatory Commission (“IURC”) in the pending electric rate case of CenterPoint Energy. If the IURC approves the settlement as filed, the average CenterPoint residential customer using 799 kWh would see their bill increase from $154.02, to $189.05, or an increase of $35.03 (22.74%). The impact on residential customers with electric heat who remain on CenterPoint’s transitional rate would be even more severe, with the settlement proposing to raise the monthly bills on those customers from $178.48, to $230.81, or an increase of $52.33 (29.33%). 

The settlement was agreed to only by CenterPoint Energy, SABIC Innovative Plastics, and the CenterPoint Energy Indiana South Industrial Group which includes Consolidated Grain & Barge; CountryMark Refining and Logistics, LLC; Marathon Petroleum Company; and Toyota Motor Manufacturing of Indiana, Inc. This case has garnered significant and unprecedented outcry from the public and elected officials across southwestern Indiana as CenterPoint’s electric bills have already been the highest in the state for over 16 years now. The case is docketed before the IURC as Cause No. 45990.

“The audacity of this proposed settlement between only a monopoly utility and a collection of deep-pocketed corporations is alarming,” said Kerwin Olson, Executive Director of CAC. “A settlement that disproportionately puts the increase on the backs of residential ratepayers and which will materially harm captive consumers, especially vulnerable households on low- and fixed-incomes struggling to make ends meet is simply not in the public interest. This proposed increase is still too much when considering that small businesses are fighting for survival, and far too many Hoosiers are faced with the immoral daily choices between paying their utility bills, or paying for food, health care, and other necessities.”

”This outrageous sweetheart deal would impose an unprecedented electric rate increase on Hoosier families in Southwestern Indiana so that CenterPoint can give millions of dollars in rate subsidies every year to large industrial customers,” said Ben Inskeep, Program Director at CAC. “Hoosiers need immediate relief from CenterPoint’s unaffordable bills that have been driven higher due to its blank-check spending and the massive corporate welfare included in rates. The Commission must deny this unfair agreement and stand up for Hoosier families.” 

Testimony from the non-settling parties regarding the proposed settlement is due July 19th, with evidentiary hearings before the IURC beginning September 3rd.  

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The proposed settlement is available upon request and is available here (PDF download).