Court OKs Duke Rate Hike
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A ruling by the Court of Appeals of Indiana paves the way for a rate increase by Duke Energy Indiana Inc. The utility wants to use proceeds from the hike to help pay for a $3.5 billion coal gasification plant in Edwardsport. The project was originally expected to cost $1.9 billion, but cost overruns pushed that total higher.
In late 2012, the Indiana Utility Regulatory Commission approved Duke's request to increase rates. Several special interest groups appealed the IURC decision, but the appeals court ruled Wednesday the commission was within its rights to modify the agreement.
You can view the full opinion of the court by clicking here.
Source: The Court of Appeals of Indiana
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