As energy costs continue to rise for consumers and small business owners, the Indiana Utility Regulatory Commission (IURC) announced it is conducting an investigation into affordability for the state’s “big five” investor-owned utility companies.

“Energy costs are a top concern for Indiana’s small business community, and we are pleased to see the IURC take this step to address a crucial affordability issue,” said Indiana State Director Natalie Carroll.

The “big five” investor-owned companies include AES Indiana, CenterPoint Energy Indiana, Duke Energy Indiana, Indiana Michigan Power Company, and the Northern Indiana Public Service Company. The inquiry is scheduled for March 24, 2026, from 9:45 a.m. – 4:00 p.m. in Indianapolis. The meeting is open to the public and will be livestreamed here.

During the 2026 legislative session, NFIB supported HB 1002, which requires utilities to offer low-income assistance programs and moves Indiana toward performance-based ratemaking as opposed to the traditional cost-of-service model. NFIB remains committed to stabilizing energy rates and providing more certainty for consumers.

NFIB recently published an energy survey to provide more insight into the types of energy used and how energy costs impact business operations. Top findings included:

• Across all major energy sectors, about 80% of small business owners reported that energy costs significantly (very or moderately) impact the business.
• Small business owners have few effective ways to manage increased energy costs; lower profits (58%) and higher prices (52%) are the most common ways owners are absorbing increased energy prices.