(FROM NETWORK INDIANA)

Prices for heating and utility bills have gone up this Winter, and it’s not just from the recent weather Indiana had.

2022 had some of the highest sustained costs across multiple energy companies due to the weather, but also increased fuel prices worldwide. Compared to 2021, Citizens Energy Group had an increase of 43% for their prices, Duke Energy increased 29%, and AES Indiana increased 19%.

WISHTV says that 2021’s December saw temperatures almost 9 degrees higher than average, and the lowest it got was 17 degrees. This past December, temperatures were normal but what was out of the ordinary was the intense cold over four days at the end of the month.

While temperatures had a role to play in price increase, a Duke Energy spokesperson said fuel costs played a significant role. “During 2022, we saw the highest sustained prices for fuel that we have seen in a decade. This is due to global demand,” Angeline Protogere said to WISHTV.

Energy companies had to pay more for the fuel, but then passed that cost on to consumers, “Those costs are pass-through costs. We do not earn a profit on them and they both rise and fall. State utility regulators have to review and approve any adjustments,” said Protogere.

Those three energy companies say that the market is stabilizing, so prices could decrease if state regulators approve.