The Indiana Utility Regulatory Committee (IURC) may have just put the proverbial nail in the coffin of many Hoosiers already living on shoestring budgets in Southern Indiana, at a time when gas and grocery bills are still rising and the fair-market rate for a one-bedroom apartment has skyrocketed.
IURC Approves $80 Million Electric Rate Hike for CenterPoint Energy
The IURC authorized CenterPoint Energy’s $80 million electric rate hike on Monday, February 3, 2025.Even before the authorized rate increase, many of their customers in and around Evansville were already experiencing financial difficulties.
CenterPoint Energy Has Highest Rates in All of Indiana for Nearly 20 Years
Since 2007, CenterPoint Energy customers have had the highest costs in the state of Indiana, according to a press release from the Energy for All (EFA) Coalition.
Energy For All Coalition Speaks Out Against CenterPoint Energy
A number of local and regional organizations have joined forces to form the Energy For All Coalition in an effort to combat CenterPoint Energy’s seeming monopoly on the energy industry in our town. The following organizations comprise the EFA:
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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
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Veterans for Peace Chapter 104
You may read a section of the news release below:
According to Indiana Code 8-1-2-0.6 and General Administrative Order 2023-04, it is the State of Indiana’s continuing policy that decisions pertaining to the state’s electric generation resource mix, energy infrastructure, and electric service ratemaking constructs must take into account the following characteristics (often referred to as the Five Pillars): 1) Reliability, 2) Affordability, 3) Resiliency, 4) Stability, and 5) Environmental sustainability. We believe the IURC did not follow these laws.
The extensive 9-hour stakeholder testimony that took place during the February 29, 2024, field hearing for Cause 45990 in Evansville was not fully taken into account by the IURC. The testimony of local government representatives, nonprofit organizations, assistance programs, and concerned consumers—including fixed-income retirees, people with disabled family members, and renters in subpar housing—made it abundantly evident that rate increases should be denied on the grounds of affordability.
CenterPoint Energy Reported in September Annuals Earning of $6.831 Billion
The Energy for All Coalition notes that CenterPoint recorded gross earnings of $6.831 billion in 2023 and 2024, a 5.29% year-over-year profit gain, compared to a cumulative profit of $18.78 billion in the three years prior.
More From The Energy For All Coalition
EFA urges the 2025 General Assembly and Indiana Governor Mike Braun to act in the release.
Evansville Mayor Stephanie Terry Shares a Statement on Approved Rate Hike
In her own statement, Evansville Mayor Stephanie Terry expressed her dismay at the news, describing the IURC ruling as “devastating,” in a Facebook post.
For clients of CenterPoint Energy, it appears that rising utility rates are our destiny.
