A state energy task force heard testimony in favor of charging some utility customers more when energy demand is at its peak and less when it’s low. This
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While the rapid transition to renewable energy may save utility customers money in the long run, it can lead to higher energy bills in the short term. That’s because customers are still paying off retired coal plants while also funding new energy sources.
A state Senate bill would study how to reduce those costs through securitization. Much like refinancing a home, it allows customers to pay off coal plants over a longer period of time at a lower rate lowering energy bills. Tim Phelps is with the Indiana Conservative Alliance for Energy, which supports the legislation.
“These securitization tools could help speed up the state’s inevitable transition to cleaner, more renewable energy and save money along the way, he said.