Duke settles concerning Edwardsport plant

Duke Energy has reached a settlement with big industrial customers of a proposed rate hike to cover costs at the Edwardsport coal gasification plant. The deal would increase the typical residential bill by $1.96 a month — a little more than half what Duke had sought for repairs, maintenance and operating costs.

Utility Consumer Counselor spokesman Anthony Swinger says Duke will make five-million dollars in payments in addition to swallowing 85-million in costs.

The Indiana Utility Regulatory Commission still must approve the agreement — that process is expected to take four-to-nine months.