Your Vectren bill may go down $10 a month, thanks to lower taxes.
The Evansville-based utility company says the Indiana Utility Regulatory Commission approved the final phase of an agreement between Vectren and various consumer groups to reflect decreases in natural gas and electric rates.
In a news release, Vectren said the decreases are the result of the federal income tax reduction prescribed in the Tax Cuts and Jobs Act of 2017.
The company said the new approval, combined with the first phase approved in June, means customers who receive Vectren electric and natural gas service will seeing their annual energy bill reduced by a combined total of about $125.
Vectren said roughly $90 is associated with the electric portion of the bill, with the remaining $35 related to the natural gas charges.
Company Vice President Brad Ellsworth said customers will “directly benefit” from the reduced cost resulting from the lower tax rate.
Vectren announced its plan to lower rates in February. Its customers have been paying the highest utility bills in Indiana.
Consumers should see the new reductions in Vectren bills by the end of this year or early 2019.