By Pamela Largue
Smart Energy International Author
Posted on August 24, 2018
Indiana utility regulators have approved an agreement between Duke Energy and consumer groups to lower customer electric rates using savings from the new federal tax law.
The move will mean a 5.6% average rate reduction for Duke Energy Indiana customers by 2020, with most of the savings beginning in 2018.
Additional savings as a result of the federal tax act and the settlement will be reflected in future filings before state utility regulators. The amount of the tax savings will vary by customer class. Average residential customers using 1,000 kilowatt-hours a month will save $7.33 on their monthly electric bills by 2020.