While the rapid transition to renewable energy may save utility customers money in the long run, it can lead to higher energy bills in the short term.

Starting in 2022, Indiana residents with solar panels will get the lower rate for energy they deliver to the grid. But Vectren wants to switch new customers to a lower payment rate earlier.

The state has approved Duke Energy's rate increase, but for less than half as much money as the utility had requested. The utility had asked for $395 million last July and was approved for $146 million.

The Indiana Chamber of Commerce's 2020 Snapshot shows Indiana continues to lag behind other states in key economic areas including health care costs, new entrepreneurs and high electricity rates.

Consumer advocates worry many Indiana residents will face financial hardship even after the pandemic ends. Several electric and gas utilities say they need financial relief, too.

The utilities say theyre losing money because building closures have driven down the demand for energy.

The state has approved the northern Indiana utility NIPSCOs controversial rate increase. The utility will raise rates for residents while allowing industrial companies to buy potentially cheaper energy elsewhere.

Duke Energy wants to raise the average resident's bill by about $24 a month. The utility says that money would go to pay for everything from metering infrastructure, to helping retire some coal plants earlier.

Duke Energy in July asked the state Utility Regulatory Commission to approve a 15 percent rate increase over two years that would boost its annual revenue by about $395 million.

Duke Energy is seeking the Indiana Utility Regulatory Commission's approval for the rate hike for its 840,000 Indiana electric customers.