OUCC, Vectren Reach Agreement on Rate Case

Posted: Updated:
EVANSVILLE -

The Indiana Office of Utility Consumer Counselor says it has reached a settlement with Evansville-based Vectren Corp. (NYSE: VVC) on a proposed seven-year electric infrastructure plan. The agreement reduces Vectren's proposal by more than $67 million.

The utility's original proposal totaled $514 million and will now be capped at $446.5 million over the next seven years. The proposal was filed under the state's Transmission, Distribution, and Storage System Improvement Charge statute.

The settlement says costs will be recovered through rate tracker increases over the same time period and caps the increases' fixed portions at $7.00 at the end of the seven-year term. The agreement also includes annual caps to "mitigate against substantial cost increases in any given year."

The OUCC says the money recovered through rate increases will primarily go toward the replacement of poles, lines, substations and other infrastructure. The settlement agreement removes certain projects, including the $39 million proposal to recover costs for advanced metering infrastructure deployment, which the OUCC describes as "beyond the scope of the TDSIC statute.

"Over the last four years, the TDSIC statute has been tested in several cases before the IURC and before the Indiana Court of Appeals. The Court’s opinions and previous IURC orders give clear guidance as to which infrastructure projects are eligible for TDSIC rate recovery," said Indiana Utility Consumer Counselor Bill Fine. "Based on those decisions and parameters, we have negotiated an agreement at arms-length that will allow eligible projects to go forward in the most cost-effective way that they can. At the same time, the utility will be able to strengthen its portion of the grid to ensure more reliable service in the future."

The settlement agreement must still be approved by the Indiana Utility Regulatory Commission.

  • Perspectives

    • Social Security Benefits For Your Spouse

      When should you begin Social Security benefits? That depends! If you are married, determining when to start receiving Social Security benefits becomes more complicated. Social Security benefits for spouses are not cut-and-dried. Benefits for a divorced spouse, Social Security survivor benefits, and working or non-working spouses are regulated by a different set of rules. While everyone wants to maximize the amount received, doing so will require thinking through multiple options.

    More

Subscribe

Name:
Company Name:
Email:
Confirm Email:
HTML
INside Edge
Morning Briefing
BigWigs & New Gigs
Life Sciences Indiana
Indiana Connections
INPower
Subscribe
Unsubscribe

Events



  • Most Popular Stories

    • Social Security Benefits For Your Spouse

      When should you begin Social Security benefits? That depends! If you are married, determining when to start receiving Social Security benefits becomes more complicated. Social Security benefits for spouses are not cut-and-dried. Benefits for a divorced spouse, Social Security survivor benefits, and working or non-working spouses are regulated by a different set of rules. While everyone wants to maximize the amount received, doing so will require thinking through multiple options.

    • Maggie Galloway accepted the top prize for Inscope Medical. (Picture Courtesy: inX3)

      Organizers Cancel INX Event

      A multi-day event celebrating Indiana innovation that debuted last year will not return this year. In a joint release, INX organizer inXInnovate LTD and the Venture Club of Indiana say INX, originally scheduled for September 18-19 in Indianapolis, has been canceled. The groups cite "unforeseen circumstances" for the cancellation. Last year's event, which took place at The Union 525 in downtown Indianapolis, featured events including the Venture Club's...

    • (Image courtesy of Winona Building Products LLC.)

      Manufacturer to Start up in Plymouth

      Winona Building Products LLC is planning to invest $9 million into a new facility in Plymouth. The startup manufacturer is locating to a former food processing plant in the Marshall County city and says it could create more than 150 jobs over the next four years. Winona, founded by the owners of Kosciusko County-based Winona Powder Coating Inc. and E&H Products Inc. of Florida, expects to open the facility in November. The company says it plans to...

    • (Image courtesy of the Indianapolis Colts.)

      'Legend And Icon' Retires From Colts Broadcasts

      The radio voice of the Indianapolis Colts for more than 30 years has retired. Bob Lamey, who was with the organization from 1984 to 1991 and from 1995-2018, was inducted into the Indiana Sports Broadcasters and Writers Hall of Fame in 2008. On an interim basis, Colts Radio Production Manager Matt Taylor will take over play-by-play responsibilities. Colts owner Jim Irsay called Lamey "a legend and icon" and said...

    • AstraZeneca Makes Global Connections From Posey County

      The executive director of a major pharmaceutical site in Posey County is discussing its global reach. In a video from the Economic Development Coalition of Southwest Indiana profiling the AstraZeneca PLC manufacturing and distribution operation in Mount Vernon, Tanya Harris says about half of the products from the facility are exported throughout the world. The operation was acquired by AstraZeneca in late 2015 in a more than $3 billion deal for the global diabetes business...