A new analysis of Indiana’s five investor-owned electric utilities shows bills went up 17.5% in one year, or $28 a month on average statewide. Photo from Nick Youngston.

INDIANAPOLIS — A new analysis of Indiana’s five investor-owned electric utilities shows bills went up 17.5% in one year, or $28 a month on average statewide.

The study was conducted by Citizens Action Coalition and “exposes how Indiana’s monopoly utilities have imposed the most severe electric bill increases on residential customers in at least two decades — with some families paying nearly $50 more a month than just one year ago.”

Using data from the Indiana Utility Regulatory Commission, the utility-focused customer advocacy group compared Tuesday, July 1 residential bills for 1,000 kWh of usage from 2024 and 2025.

“Things keeps getting worse for Hoosier consumers and our state leaders continue to allow it to happen,” said Kerwin Olson, executive director of the coalition. “Based on this trend, the rhetoric regarding affordability emanating from the Statehouse appears to be nothing more than lip service. Hoosier consumers can no longer afford monopoly pricing. Something must change, soon”

The statewide average increase was nearly double the prior year’s record increase of 9.3%, the analysis found.

“Indiana has been growing, and Indiana’s utilities have an obligation to keep pace with that demand and power a modern economy,” the Indiana Energy Association said in a statement.

“In recent years, our energy companies have made substantial investments in additional power generation and modernization of the state’s century-old electric grid that delivers that power. We’ve added advanced technology to the electric grid that reduces power outages and hardens the grid against severe weather. There also have been substantial investments in evolving environmental regulations. We are committed to keeping affordability top of mind, while also making the investments needed to provide reliable electricity.”

IEA is a trade association that represents Indiana’s investor-owned electric utilities and local distribution gas companies.

Here are some findings about individual utilities from the analysis:

• NIPSCO residential customers were hit hardest: $50 per month, or 26.7%, increase in just one year, compounding a 17.8% hike in 2024. This follows an IURC-approved settlement opposed by CAC.
• CenterPoint bills surged $44 per month, or 25%, after the IURC greenlit a large base rate increase.
• Duke Energy Indiana raised residential bills nearly $26 per month, or 20%.
• AES Indiana increased bills nearly $17 per month, or 12% — and now seeks an additional $21 per month by 2027 in a pending rate case.
• I&M bills rose $6 per month, or 3.9%.

IEA noted the U.S. Energy Information Administration ranks ranks Indiana residential prices among the lowest in the east north central region.