INDIANAPOLIS (AP) — Indiana regulators have denied a request from utilities to charge ratepayers for revenue the companies expect to lose because of the coronavirus pandemic.
The Indiana Utility Regulatory Commission voted unanimously Monday to deny the request by utilities, who had said they needed to recover millions of dollars in lost revenue over the last few months as businesses closed their doors and factories cut hours and used less electricity.
Duke Energy, NIPSCO, Vectren and other Indiana electric and gas companies had petitioned the commission for permission to recover revenue shortfalls.
“I&M respects the decision by the IURC to balance the interests of all concerned in these challenging times brought on by the impact of the COVID-19 pandemic,” said Toby Thomas, President and COO of Indiana Michigan Power. “Our team at I&M is committed to ensuring that when our customers flip the light switch, cool their homes, or operate their business, the energy to power their lives is available 24/7.”
The IURC also ruled Monday that disconnection suspensions should be extended by 45 days past Tuesday’s deadline.
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