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Duke Energy’s residential electric rates rank fourth-highest among the electric utilities the IURC regulates, as of July 1, 2015 *.
Major components in a typical electric bill include base rates, trackers, and sales taxes.
Base rates cover most of a utility’s operating and maintenance costs. They make up about 66 percent of a typical Duke Energy residential bill.
Duke Energy Indiana's base rates were approved in May 2004.
To view the rate case's public file, click here and enter docket number 42359.
In addition to base rates, Duke Energy and other electric utilities recover and credit separate, specific costs through rate adjustment mechanisms known as "trackers." The OUCC reviews all tracker rate adjustments in IURC cases on a regular basis.
Duke Energy is authorized to use a number of electric trackers. They make up about 34 percent of a residential customer’s typical bill.
Of particular interest, Duke Energy recently sought approval for a 7-year, $1.87 billion plan for infrastructure improvements, along with approval of a new tracker to recover the costs. The tracker is known as the Transmission, Distribution, and Storage System Improvement Charge (TDSIC) and received legislative approval in 2013.
Also of note is Duke Energy’s new Edwardsport power plant. For a summary of cases involving rate recovery for the plant, click here.
In addition, Duke Energy is seeking approval of a new energy efficiency plan that would increase rates over the next three years.
Tracker Recovers Costs for Frequency IURC Cause No. Fuel Adjustment Clause (FAC) Coal and other fuels Quarterly 38707 Environmental Cost Recovery (ECR) Emissions control equipment (including operations & maintenance) Semi- Annual 42061 Integrated Gasification Combined Cycle (IGCC) Construction and financing for IGCC facility at Edwardsport, Ind. Semi- Annual 43114 Demand Side Management (DSM) Energy efficiency programs Annual 43079 Summer Reliability Adjustment (SRA) Capacity resources needed for system reliability Annual 44348 Regional Transmission Operator (RTO) Participation in Midwest Independent Transmission System Operator (MISO) Quarterly 42736 Federally Mandated Cost Adjustment (FMCA) Critical Infrastructure Protection Semi-Annual 44367
To view the IURC public files in tracker cases, click here and enter the appropriate docket number.
The seven percent state sales tax applies to all Indiana electric utilities.
* Rankings and examples refer to monthly usage of 1,000 kWh in the IURC’s 2015 Residential Bill Survey.