Bloomington Chamber of Commerce
  • Membership
    • Business Directory
    • Become a Member
    • Benefits of Membership
    • Levels of Membership
    • Member Portal & Materials >
      • Member Login
    • Chamber App
  • Events & News
    • Signature Events
    • Chamber Events Calendar
    • Sponsorship
    • Multimedia Gallery
    • Member News
    • Chamber News
  • Initiatives & Resources
    • Bloomington Women in Leadership
    • The Success School
    • Young Professionals Bloomington
    • Business Resources >
      • 2024 Solar Eclipse
    • Job Board
    • Community Calendar
  • Advocacy
    • Advocacy Matters Updates
    • Legislative Agenda
    • Local Government
    • Advocacy Resources
  • About Us
    • Contact Our Team
    • Board of Directors
    • Press & Media

Information on rising fuel costs and Duke Energy electric bills--a message from Duke Energy Indiana President Stan Pinegar

5/12/2022

1 Comment

 
Picture
​As a key stakeholder, we wanted to share with you a letter to Indiana newspaper editors from Duke Energy Indiana State President Stan Pinegar on how rising fuel costs are affecting customer electric bills.  It describes what we are seeing in the volatile energy markets and includes resources to help customers. Please contact us with any questions you may have, and feel free to share these messages on your Chamber website. A photo of our state president is attached should you want to include it.  Thank you - Bruce
 
Hoosiers are paying more at the grocery and gas pump and may be noticing higher electric bills as well. We want to share background on what’s driving Duke Energy electricity costs and what we’re doing to help.
 
Since mid-2021, costs for coal and gas to produce the energy that powers Indiana homes, businesses and assembly lines have increased significantly. Fuel accounts for a significant portion of our electric costs, averaging as much as 30% of a total bill. That’s why when there are volatile energy markets, it can have a big impact.
 
In fact, Duke Energy Indiana is seeing the highest sustained prices for fuel that we have witnessed in a decade. Global demand and tight fuel supplies as well as labor shortages at coal mines and railroads are affecting the cost of the power we produce as well as what we purchase in the energy markets. We also have been working to overcome supply chain challenges to ensure we have sufficient supplies of fuel available for summer and winter—the times of highest electric demand. ​

These are not permanent rate increases. Fuel costs rise and fall, and we pass those costs to our customers with no markup, so customers pay what we pay. Our priority is to purchase fuel at the best possible price, through steps such as long-term contracts and using a diversity of suppliers. To lessen the impact on customer bills, we are spreading recovery of some of these fuel costs over a longer period to reduce the rate impact.
 
Unfortunately, as we approach the summer, the bill impact will continue to increase, and we expect that to continue throughout the year. If you are struggling financially to pay your electric bill, contact us at 800.521.2232. We can discuss payment plans and resources for help.
 
We also recommend tools such as High Bill Alerts and Budget Billing that can help customers to manage their bills. Financial assistance also is available through our Share the Light program, where eligible customers can receive up to $300 in energy bill assistance. You can find more information on these programs at Lower My Bill ToolKit - Home - Duke Energy (duke-energy.com).
 
We have found that many of our customers are missing out on state and federal assistance programs for which they are eligible. To learn more, visit  Indiana Low Income Home Energy Assistance Program | Benefits.gov.
 
We know that higher electric bills can be a hardship for many, and we want to connect customers to resources for help. 
Picture
​Stan Pinegar
President
Duke Energy Indiana
1 Comment
Mia Evans link
11/4/2022 08:32:26 pm

It's great to know that the cost of fuel will rise and fall and the increase is always temporary. I will have my own car soon, and I might need to find a diesel depot to get my supplies. So I feel better and secure because of what you said, especially when I will be spending most of my savings to buy my dream car.

Reply



Leave a Reply.

    Share your news with us!

    Submit your news to the Chamber by the 12th or 28th of each month to be included in the bi-weekly Membership Matters emails.

    Event submissions will only be published once. Please consider submitting your event to the Community Calendar through your Member Portal. 

    Direct solicitations for sponsorships, paid advertising or political endorsements will not be included in any publication.

    Submit Member News

    Archives

    November 2023
    October 2023
    September 2023
    August 2023
    July 2023
    June 2023
    May 2023
    April 2023
    March 2023
    February 2023
    January 2023
    December 2022
    November 2022
    October 2022
    September 2022
    August 2022
    July 2022
    June 2022
    May 2022
    April 2022
    March 2022
    February 2022
    January 2022
    December 2021
    November 2021
    October 2021
    September 2021
    August 2021
    July 2021
    June 2021
    May 2021
    April 2021
    March 2021
    February 2021
    January 2021
    December 2020
    November 2020
    October 2020
    September 2020
    August 2020
    July 2020
    June 2020
    May 2020
    April 2020

    RSS Feed

The Greater Bloomington Chamber of Commerce.  All Rights Reserved.
421 W 6th Street, Suite A  |  Bloomington, IN 47404
Phone: (812)336-6381 | info@chamberbloomington.org | sitemap
Office Hours:
Monday-Thursday: 9:00am - 5:00pm
Friday: 9:00am-3:00pm

Trust Center
There is a no refund policy for events.  If you need to reassign your ticket to another person we will be happy to update our attendance list. Thank you.
Picture
  • Membership
    • Business Directory
    • Become a Member
    • Benefits of Membership
    • Levels of Membership
    • Member Portal & Materials >
      • Member Login
    • Chamber App
  • Events & News
    • Signature Events
    • Chamber Events Calendar
    • Sponsorship
    • Multimedia Gallery
    • Member News
    • Chamber News
  • Initiatives & Resources
    • Bloomington Women in Leadership
    • The Success School
    • Young Professionals Bloomington
    • Business Resources >
      • 2024 Solar Eclipse
    • Job Board
    • Community Calendar
  • Advocacy
    • Advocacy Matters Updates
    • Legislative Agenda
    • Local Government
    • Advocacy Resources
  • About Us
    • Contact Our Team
    • Board of Directors
    • Press & Media