OUCC Seeking Comment on Vectren Rate Increase
The Indiana Office of Utility Consumer Counselor is seeking public comment on Evansville-based Vectren Corp.’s (NYSE: VVC) proposed seven-year, $514 million plan for system improvements. If approved, the average customer could see annual fixed increases on their residential bills through 2024.
Vectren is proposing the increases to improve system reliability and replace aging infrastructure. Some of the projects will include installing advanced metering infrastructure throughout the utility’s service area and upgrades to its distribution system and underground network.
The OUCC says if Vectren’s proposal is approved by the Indiana Utility Regulatory Commission, the average residential customer would see a projected increase of $1.29 in 2019, $3.29 in 2019, rising up to $13.46 in 2024. The increases would be fixed charges that would not vary based on usage.
Those wishing to submit comments on the proposed plan have until April 27 to do so. The OUCC says it is scheduled to file testimony on May 4 and the IURC must issue an order on the plan by late September.
You can find more information on Vectren’s proposal and how to submit comments by clicking here.