State board approves Vectren plans, rate increases
You can expect higher Vectren bills, starting next year.
The Indiana Office of Consumer Counselor approved the Evansville-based utility company’s plan to upgrade and modernize its electrical grid, involving more than 800 projects and seven years of annual rate increases.
The plan was originally presented as costing $516 million. The state board, Vectren, and a coalition of industrial customers reached an agreement to reduce the cost to $446 million.
A news release from Vectren says a typical residential customer will see electric bill increases of $1 to $2 per month, starting in 2018.
By the end of the seven years, the impact will be $16 to $17 per month.
The consumer counselor also approved Vectren’s plan to build two solar projects in Vanderburgh County, one on Highway 41 near North High School and the other near Oak Hill Cemetery on Morgan Ave.
The City of Evansville announced in April the energy company would lease the land off Morgan.