Indiana Gov. Mike Braun said a new law gives the state tools to hold utility companies accountable — and that it will be up to his administration to implement it.
A signing ceremony Monday marked Braun's most direct public commitment to enforcing House Enrolled Act 1002, which he signed in February.
The law changes the way rates are approved by the Indiana Utility Regulatory Commission, tying them to performance data. It also requires companies to make utility bills more consistent and predictable — and to offer programs to low-income customers.
At the ceremony, Braun said utilities “must be held accountable for affordability.”
"This bill completely overhauls how utility companies are regulated to put ratepayers over profits. For years, utilities were guaranteed a return on equity for their investments, and again, if you don’t have a reasonable return on equity, you’re not going to have dependable electricity,” he said. “But it’s got to be a balanced equation.”
The bipartisan bill, authored by Rep. Alaina Shonkwiler (R-Noblesville), passed with near-unanimous support. Braun signed it into law on Feb. 26.
Shonkwiler attended the signing ceremony, along with Sen. Eric Koch (R-Bedford), Rep. Ed Soliday (R-Valparaiso) and state Secretary of Energy and Natural Resources Suzanne Jaworowski.
Indianapolis Democratic Sen. J.D. Ford also joined the event. He said the law shows bipartisan collaboration after constituents raised concerns about rising electricity costs.
“It really goes to show you that Hoosiers were speaking out about affordability issues and that we were listening. Did the bill do everything I wanted it to do? No, but it’s definitely a step in the right direction,” Ford told WFYI.
He said he is happy the law includes a moratorium on disconnections on hot summer days.
Braun said affordability concerns are not going away. He blamed the previous administration for inflation but said his office will be responsible for carrying out the new law.
"It’ll be up to the administration — I as governor — to make sure that we enforce and implement it, and then while we’re doing it, we’re going to obviously get input on what we need to do, to maybe tweak it or do things differently,” he said.
Braun recently appointed three new members to the IURC and a new state Utility Consumer Counselor — the office that advocates for utility ratepayers.
The IURC opened an investigation last month into rising energy prices and bill transparency, hearing presentations from Indiana’s five investor-owned electric utility companies.
The commission is now hosting listening sessions across the state.
Portions of the new law will go into effect over the next few years.
Contact WFYI data journalist Zak Cassel at zcassel@wfyi.org.
