Back in November, Utility Service Board Chairman Kent Brewer announced that residents will see higher electric bills thanks to an increase by IMPA (Indiana Municipal Power Agency). At that time, Brewer wasn’t exactly sure how much that would hurt taxpayers in the pocketbook. On Monday night, Brewer ended the suspense.
“With the new tracker-factor information for January, February and March which will be reflected in your February bill for January usage, it’s going to be about a 48-cent increase for 800 kilowatts used for a residential home,” said Brewer.
Brewer added the bills could fluctuate depending upon if the use is more or less than the 800 kilowatts.
Brewer also announced the full increase of 3.34 percent increase by IMPA. He added it was six percent higher in 2023 when the rate hike reached 9.5 percent.
Brewer also said the rate increase would only be the first three months of 2024, He said he will release the rest of it when they get it.
“The next three months, we haven’t gotten that information yet,” said Brewer. “Once we get that information, I’ll report it and calculate the numbers. We’ll be able to give people a heads up as to what it might be the next three months.”