In wake of rising costs, Duke Energy details available assistance

Hoosiers are paying more at the grocery and gas pump and may be noticing higher electric bills as well. We want to share background on what’s driving Duke Energy electricity costs and what we’re doing to help.

Since mid-2021, costs for coal and gas to produce the energy that powers Indiana homes, businesses and assembly lines have increased significantly. Fuel accounts for a significant portion of our electric costs, averaging as much as 30% of a total bill. That’s why when there are volatile energy markets, it can have a big impact.

In fact, Duke Energy Indiana is seeing the highest sustained prices for fuel that we have witnessed in a decade. Global demand and tight fuel supplies as well as labor shortages at coal mines and railroads are affecting the cost of the power we produce as well as what we purchase in the energy markets. We also have been working to overcome supply chain challenges to ensure we have sufficient supplies of fuel available for summer and winter—the times of highest electric demand.

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