Governor Braun Signs Landmark Utility Legislation to Address High Electricity Costs in Indiana
Governor Mike Braun of Indiana has signed a significant piece of legislation aimed at alleviating the financial burden of high utility bills on residents. The new law, House Enrolled Act 1002, introduces several measures to enhance affordability and accountability among utility providers. Key provisions include mandatory assistance programs for low-income customers, a prohibition on hot-weather shutoffs for these customers, and a requirement for all residential customers to be placed on a 'levelized' billing plan, with an option to opt out. The legislation also establishes a three-year performance-based ratemaking process for investor-owned electricity suppliers, overseen by the Indiana Utility Regulatory Commission (IURC). This process will consider factors such as affordability and service restoration. Governor Braun emphasized that the law prioritizes affordability over utility profits, although the law does not mandate immediate rate reductions. 
