In a time when gas and grocery bills are continuing to climb, and fair-market rate for a 1-bedroom apartment has skyrocketed, the Indiana Utility Regulatory Committee (IURC) may have just put the proverbial nail in the financial coffin of many Hoosiers already living on shoestring budgets in Southern Indiana

IURC Approves $80 Million Electric Rate Hike for CenterPoint Energy

On Monday, February 3, 2025, the IURC approved an $80 million electric rate increase for CenterPoint Energy. Many of their customers in and around Evansville are already finding themselves financially strapped before the approved rate hike.

CenterPoint Energy Has Highest Rates in All of Indiana for Nearly 20 Years

According to a press release from the Energy for All (EFA) Coalition, CenterPoint Energy customers have the highest bills in the state of Indiana, and have had since 2007.

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Energy For All Coalition Speaks Out Against CenterPoint Energy

The Energy For All Coalition, is made of several area and regional organizations that have come together in the fight against CenterPoint Energy's seeming monopoly on the energy business in our community. The organizations that make up the EFA include:

  • Citizens Action Coalition
  • Citizens' Climate Lobby - Evansville Chapter
  • Daughters of Charity - 1st Avenue of Evansville
  • Direct Action Against CenterPoint Energy (DAACE)
  • League of Women Voters of Southwestern Indiana
  • Ohio River Valley Beyond Coal
  • Sierra Club, Southwest Indiana Local Network
  • Solar United Neighbors
  • Tri-State Creation Care
  • Veterans for Peace Chapter 104

A portion of the press release can be read below:

We feel the IURC failed to follow the General Administrative Order 2023-04 and Indiana law under Indiana Code § 8-1-2-0.6, which declares that “it is the continuing policy of the State of Indiana that decisions concerning Indiana’s electric generation resource mix, energy infrastructure, and electric service ratemaking constructs must consider the following attributes (commonly referenced as the “Five Pillars”) 1) Reliability, 2) Affordability, 3) Resiliency, 4) Stability, and 5) Environmental sustainability.”

The IURC failed to completely take into consideration the considerable 9 hours of stakeholder testimony during the February 29, 2024, field hearing for Cause 45990 that occurred in Evansville. The testimony from local government officials, assistance agencies, nonprofits, and concerned customers that included retirees on a fixed income, persons with family members with disabilities, and renters living in substandard housing, made a clear case for denying any rate increases on the grounds of affordability.

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CenterPoint Energy Reported in September Annuals Earning of $6.831 Billion

The Energy for All Coalition points out that CenterPoint say a 5.29% year-over-year profit increase between 2023 and 2024 when they reported gross profits of $6.831 billion dollars, and a combined $18.78 billion in profits the three years prior.

More From The Energy For All Coalition

In the release, EFA calls on Indiana Governor Mike Braun, and the 2025 General Assembly to take action.

We call on Gov. Braun to honor his policy agenda promising affordable energy by placing a true consumer advocate on the IURC. We call on the 2025 General Assembly to stop focusing all of their effort this session on expensive and unproven generation technologies and instead pass legislation to protect consumers, starting with instituting a service disconnection moratorium during the hottest summer months, requiring reporting of customer disconnection data to help inform real solutions to the utility affordability crisis in Indiana, and bolstering cost-effective renewable energy production. -EFA Coalition

Evansville Mayor Stephanie Terry Shares a Statement on Approved Rate Hike

In a statement of her own, Evansville Mayor Stephanie Terry shared her disappointment in the news, calling the IURC Ruling "devastating," in her post to Facebook.

I am disappointed by the IURC's ruling today, approving an increase in local utility rates. At a time when so many are struggling to make ends meet - to find affordable housing, to afford groceries - this increase in the cost of basic neccessity is devastating. While the mayor's office has no authority over CeterPoint rates, I was proud to advocate againsdt this increase at the IURC hearing last year, as well as to state legislators and to local, state, and national CenterPoint officials. As your mayor, I promise I will continue to fight for you by advocating against future rate increases, and in favor of programs that offer assistance to those left wondering how they will afford today's rate increase. - Evansville Mayor Stephanie Terry

As for CenterPoint Energy customers, it seems climbing utility costs are the fate of our future.

It's Cold Outside: Frugal Tips to Stay Warm Without Breaking the Bank

Heating costs can add up fast during the winter months, but staying warm doesn’t have to break the bank or burn a hole in your wallet. Keep reading for some budget-friendly ways to stay cozy and warm!

Gallery Credit: Kat Mykals

 

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