The Indiana Utility Regulatory Commission approved a settlement regarding Duke Energy’s coal gasification plant in Edwardsport.
Under the settlement, Duke Energy will pay almost $90 million dollars of the plant’s operating costs. The average Duke customer will see a 2-percent rise in their monthly utility bill beginning in September—an increase of about $1.80.
This settlement builds on a previous agreement from 2012 that required Edwardsport’s shareholders to pay the full construction and start-up costs. The Edwardsport plant was originally supposed to cost $1.9 billion, but construction and operations costs ballooned to $3.5 billion—one of the most expensive projects in Indiana history.
