The companies, which include Duke Energy and Indianapolis Power and Light Co., are facing "substantial adverse financial impact" and want to charge customers for "bad debt expense incurred" while the utilities have suspended service shut offs as part of a state order and an overall decrease in energy use, The AP reported.
If approved, the companies would have to track losses and costs related to the coronavirus and develop a plan to recover that revenue. Companies could charge customers over time to recover those costs. Customers would not see those hikes immediately.
The utility companies did not offer figures on how much they have lost or expect to lose. How much customers’ bills would increase was not provided either.
At least 29 other states have approved similar deals, The AP reported.
In some states, utilities’ planned rate increases have been suspended but are expected to go into effect at a later date.
National Grid, which supplies electricity to customers in upstate New York, had its rate increase delayed until July 1. It was the state's only electricity company set for a rate increase, Utility Dive reported. It plans a 4% increase to electric bills and 5% to natural gas customers.
In Arizona, two pending rate increases were pushed back 60 days by the Arizona Corporation Commission, which regulates utilities and other companies, Tucson.com reported.
The Tucson Electric Power Co. filed for a rate increase in April 2019 seeking a 7% increase that would have started in May 2020. Southwest Gas Corp. filed its rate increase in May 2019 asking for a 20% increase. Decisions on those increases are expected this month, Tucson.com reported.
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