Robin Skuya-Boss, robyn.skuya.boss@sierraclub.org
Indianapolis, Ind – The Energy Inflation Act, House Bill 1007, will receive a Senate Utilities Committee hearing this Thursday, March 27, 2025 at 9:00AM.
The Energy Inflation Act creates unnecessary red tape for utilities to retire coal plants, including a duplicative process to evaluate grid reliability that already exists between state regulators and the regional transmission operators that run our electric grid. Energy Inflation Act supporters ultimately want the state to make the final decision on coal plant retirements or coal-to-gas conversions. Meanwhile Governor Braun’s utility regulators just forced Duke customers to pay excessive bills for the coal gasification Edwardsport money-pit, and now lawmakers are advancing proposals that could lock-in our state as one of the most coal-reliant in the country.
House Bill 1007 also provides a blank check for the development of unproven and expensive small modular nuclear reactor (SMR) technology. The bill enables utilities to collect 80 percent of project development costs up front, and up to 20 percent recovery later in a rate case, even if the project never becomes operational. Fitch Ratings notes utilities that pursue nuclear “face the risk of weakened credit quality,” and that even the best financial conditions available led to the failure of the government-backed SMR project in Idaho. Duke Energy and I&M have each applied for federal funding for SMRs. Similar nuclear provisions are in Senate Bill 424, which passed both chambers, and will soon head to Governor Braun’s desk.
Reporting last month indicates that Duke Energy Indiana is one of the largest single spenders on lobbying in the state. Additionally, Duke Energy raked in $4.39 billion in net income last year, with 14 percent profit margin, and net income is up 5 percent total compared to 2023.
"The Energy Inflation Act represents one thing, greed. Monopoly utilities and billion-dollar tech companies want Hoosier families to fund their experimental corporate investment decisions.” said Robyn Skuya-Boss, Hoosier Chapter Director for the Sierra Club. “Last year we witnessed energy customers speak out in huge numbers against bill increases in Evansville, Bloomington and across Indiana. Too many Hoosier families can no longer afford to keep up with their energy bills increasing. Today we are opposing legislative attempts to shift millions of customer dollars into aging and expensive coal plants or billions into experimental small modular nuclear reactors that will create new environmental problems in our state.”
Who: Senate Utilities Committee
What: Hearing on House Bill 1007
Where: Room 130
When: Thursday, March 27, 2025 at 9:00AM
Robyn will testify and is available to speak with reporters before or after the Senate Utilities hearing.
About the Sierra Club
The Sierra Club is America’s largest and most influential grassroots environmental organization, with millions of members and supporters. In addition to protecting every person's right to get outdoors and access the healing power of nature, the Sierra Club works to promote clean energy, safeguard the health of our communities, protect wildlife, and preserve our remaining wild places through grassroots activism, public education, lobbying, and legal action. For more information, visit www.sierraclub.org.