US-based utility Vectren North has announced that an order approved by the Indiana Utility Regulatory Commission completes a collaborative effort between the company, the Indiana Office of Utility Consumer Counselor and other stakeholders in the utility's territory, regarding proposed changes to the rates for its gas distribution.
Vectren North filed a petition with the Indiana Utility Regulatory Commission (IURC) requesting a $41.1 million increase in revenues. After an extended collaboration with the Indiana Office of Utility Consumer Counselor (OUCC) and the other stakeholders in the case, a settlement agreement was reached and filed with the IURC.
The current order, which approves that settlement agreement, provides for a $27.5 million increase, including the recovery of certain costs totaling $10.6 million that will be recovered through separate recovery mechanisms rather than base rates.
This decision is expected to result in bills increasing by less than 4% or about $3.50 per month for the typical residential customer. All gas costs will be recovered from customers through Vectren North’s existing gas cost adjustment process on a dollar-for-dollar basis.