Report: Ind. power rates to rise a third by 2023

By: Associated Press
By: Associated Press

INDIANAPOLIS (AP) An analysis by Purdue University researchers predicts Indiana's electricity rates will increase nearly a third over the next 10 years, leading to an unprecedented stagnation in demand for power among Hoosier residents and businesses.

The Purdue-based State Utility Forecasting Group says new federal regulations on coal-fired power plants, the costs of new power plants and other factors will boost Indiana's electricity rates 32 percent between 2013 and 2023.

Panel director Douglas Gotham says that spike is expected to lead to little change in demand for power over the next two decades as residents and businesses work to reduce their energy costs.

He says there's expected to be essentially no growth in Indiana's demand for electricity over the rest of the current decade before demand starts picking up again.

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