A tentative agreement has been reached which would allow Vectren to increase rates and improve its electric infrastructure.
Electric rates for the average customer would increase one to two dollars a month beginning in early 2018, but those bills would increase $16 to $17 a month over the next seven years.
The original plan featured more than 800 projects with an estimated $514 million cost over a seven-year period. Under the new agreement, the cost is reduced to $446 million, and the added revenue would allow Vectren to improve its infrastructure such as utility poles, transmission lines and substations.
State regulators must agree to the deal before it goes into effect. The Indiana Regulatory Commission is expected to rule on the settlement no later than September.