Gov. Braun praises IURC for defense of ratepayers, expresses disappointment with utilities’ defense of high rates

Indiana Governor Mike Braun praised the Indiana Utility Regulatory Commission (IURC) and Chairman Andy Zay for their strong, ratepayer-first approach during the March 24 utility rate hearing, while expressing disappointment with how the major utilities defended continued high rates.

Governor Braun said he will personally review the results of the hearing and the IURC’s upcoming listening sessions to identify every additional way to deliver relief to Hoosier families.

“On Tuesday, utilities defended their rate increases in front of the IURC,” said Governor Mike Braun. “I want to strongly praise Chairman Zay and the entire Commission for taking a hard stand and demanding real accountability. They asked the tough questions and made it clear that automatic pass-throughs and unchecked hikes are no longer acceptable. Residential electric rates have climbed 28.9 percent since 2014 — far outpacing inflation and our peer states. Hoosier families have had enough.

"I will personally review the results of Tuesday’s hearing and the full listening sessions to identify every additional way we can deliver real relief to ratepayers," Gov. Braun continued. "With HEA 1002 now law, we have the tools to make it happen, and these sessions will ensure the voices of the people paying the bills come first.” 

Key Facts on Indiana Electric Rates (U.S. Energy Information Administration data):

• Residential rates rose 28.9% from 2014 to 2025 (11.46 ¢/kWh to 14.77 ¢/kWh).
• In the most recent year alone (2024–2025), rates jumped 11% — the highest increase in the Midwest.
• Neighboring states from 2024-2025:
  • Illinois: +7%
  • Ohio: +9% 
  • Michigan: +6% 
  • Kentucky: +1%
• In multiple years, Indiana’s residential electric price growth exceeded the national Consumer Price Index (CPI).

Governor Braun’s Actions on Energy Affordability

• Signed HEA 1002, establishing performance-based ratemaking, multi-year rate plans, low-income bill stabilization programs, and new transparency requirements for utilities.
• Appointed new IURC commissioners with a clear mandate to prioritize ratepayer interests and scrutinize costs more rigorously.
• Strengthened the Office of Utility Consumer Counselor to ensure stronger advocacy for families and small businesses.
• Made utility rate relief a cornerstone of the 2026 legislative agenda and State of the State address.

We are already seeing results from Governor Braun's ratepayer focused approach to energy. Indiana Michigan Power (AEP/I&M) has announced it will file a new rate case specifically designed to lower residential rates for its customers.

The IURC will hold a series of public listening sessions across the state beginning this week. Ratepayers are encouraged to attend and share their electric bills, experiences, and ideas. Testimony will directly inform future regulatory proceedings under the new authorities granted by HEA 1002.

Session details and registration information will be posted at http://www.in.gov/iurc in the coming days.