Duke Energy proposes rate cut, credits federal tax overhaul

INDIANAPOLIS (AP) — Duke Energy’s 800,000 Indiana customers could see their electric bills drop by an average of 5.6 percent this year.

Indiana’s largest electric utility says the cut is related to federal tax changes, which reduced taxes for many investor-owned utilities.

Duke says it stuck a deal with the state’s consumer watchdog and industry groups to share some savings with consumers. State utility regulators still must sign off on the plan before a cut can be made.

Duke Energy says it will provide average savings of $7.33 a month for customers using 1,000 kilowatt-hours. The Indiana Office of Utility Consumer Counselor says other utilities have adjusted rates or plan to do so.

They include: Aqua Indiana, Indiana Michigan Power, Northern Indiana Public Service and Vectren.