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Duke Energy received Indiana Utility Regulatory Commission (IURC) permission to build its Edwardsport, Ind. generation plant in 2007. Since then, Duke Energy has sought rate recovery for the plant's capital and operating costs in IURC cases, as allowed by state law.
On December 27, 2012, the IURC approved a settlement agreement among the OUCC, a group of Duke Energy's large industrial customers, Nucor Steel and Duke Energy. The approved agreement permanently caps the project's costs and shields ratepayers from nearly $900 million in cost overruns. The OUCC's April 30, 2012 and December 27, 2012 news releases offer an overview.
In ongoing cases, the OUCC continues to closely monitor the Edwardsport project's costs in light of the 2012 order. This includes close scrutiny of Duke Energy's various rate tracking filings to ensure that the utility only receives appropriate cost recovery, and receives it through the appropriate tracker mechanism.
In pending IGCC recovery cases, the OUCC, industrial customers, and Duke Energy reached a settlement agreement in September 2015 that would provide $85 million in additional ratepayer relief. The OUCC's September 18, 2015 news release offers a summary. A new settlement agreement - filed on January 15, 2016 - increases that amount to $87.5 million. The agreement is pending before the IURC.
Duke Energy recovers its costs for the project through a billing component known as the IGCC rider. As allowed by state law, Duke may request adjustments to the IGCC rider twice each year. The IURC has adjusted this rider to reflect current construction costs on a semi-annual basis.
To review all public documents in these cases, including formal testimony, visit the IURC website and enter docket number 43114.
This page will be updated as warranted.