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Indiana regulators OK Vectren’s grid upgrade, rate increases

Indiana regulators OK Vectren’s grid upgrade, rate increases

Bill Stephens, Web Editor

September 21st, 2017

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EVANSVILLE, Ind. (AP) — Indiana utility regulators have approved Vectren Corp.’s seven-year plan to upgrade its electrical grid and pass those costs onto its customers through rate increases.

The Indiana Utility Regulatory Commission approved the Evansville-based utility’s plan Wednesday. The grid upgrade will include replacing underground cables and modernizing equipment across Vectren’s service area.

Vectren’s original upgrade plan would have cost $516 million. But that proposal was reduced to $446 million in a settlement with the Indiana Office of Utility Consumer Counselor and a group of industrial customers.

The Evansville Courier & Press reports that by the end of the seven-year upgrade plan, a typical Vectren residential customer will see electric bill increases of about $16 to $17 per month.

The company delivers electricity to about 145,000 customers in seven southwestern Indiana counties.

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Information from: Evansville Courier & Press, http://www.courierpress.com

Copyright 2017 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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