The cost of a new Duke Energy plant is coming in way over budget and that's driving up the price of your energy bill.
The Edwardsport Coal Plant has been under construction since 2007. Duke set a cost ceiling at $2.6 million but the estimated cost is now at about $3.3 million. That's more than $700,000 over budget.
Duke Energy reached a settlement to absorb the cost. That settlement will push your energy bill up more 14.5 percent over the next two years.
The increase includes a 5 percent rate increase customers have already been billed for.