Law360, New York (May 01, 2012, 8:07 PM ET) -- Duke Energy Corp.’s Indiana arm struck a deal Monday with a ratepayers’ rights agency and some of its biggest industrial electricity consumers in the state to have customers finance $2.6 billion worth of an estimated $3.3 billion coal gasification power plant.
Utility rates would jump nearly 15 percent under the agreement, which provides for a new 9.6 percent increase on top of the 5 percent increase customers already have absorbed, according to a statement issued Monday by Duke Energy Indiana Inc., the state’s largest electricity supplier....
Duke, Ratepayer Group Settle On $3.3B Ind. Plant Funding
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