News Sections
Indiana Regulators Approve Modified Deal With Duke
Updated May 5, 2013 12:12 AM
 Print    Archive    RSS

(INDIANAPOLIS) - Regulators have approved a settlement that prohibits Duke Energy Corp. from passing on to consumers more than $2.6 billion of the construction costs for its troubled coal-gasification plant in southwestern Indiana, requiring the utility to absorb nearly $900 million in cost overruns.

The Indiana Utility Regulatory Commission approved the agreement involving Duke's Edwardsport power plant on Thursday. The plant is currently projected to cost $3.5 billion. The original cost estimate in 2007 was $1.9 billion.

Duke said in April that customers' rates would increase by 14.5 percent under the deal.

The commission says it modified the deal to provide another $28 million in various credits to ratepayers.

The proposed deal was announced in April by Duke and the agency representing utility ratepayers.

A spokeswoman says Duke is reviewing the order.

« Previous Article
Next Article »

 Print    Archive    RSS

Have a question or comment about a news story? Send it to

Advertise with 1340 AM WBIW
Advertise with 1340 AM WBIW

1340 AM WBIW, Bedford's Place To Talk. Serving Lawrence and surrounding counties since 1948!

© 2017 Ad-Venture Media, Inc. All Rights Reserved. and Listen Live Powered by HPC

Advertise  |  Careers  |  Contests  |  About  |  Feedback