A settlement between Indiana's state consumer advocate and Indiana Michigan Power would significantly cut the utility's proposed rate hike.
Northern Indiana Public Service Company's says it plans to add light-emitting diode, or LED, lights to 42,000 streetlights by the year 2022.
The CBU Director says increased rates will help stabilize the finances of the utilities and fund capital investments.
Utility companies argue the EPA rules will increase electricity bills, but the EPA predicts Americans will actually save money in the long-term.
Duke Energy is requesting the state approve a $1.9 billion plan to upgrade its electricity grid, which would be funded in part by rate increases.
The utility companies did not use all of the money they collected from rate-payers last year to fund energy efficiency programs.
Citizens Water is seeking a 14.7 percent hike in water rates, but the Office of Utility Consumer Counselor says it should only be about a 2.6 percent.
Indiana ranked 7th in the nation for coal production in 2010, according to the U.S. Energy Information Administration.
Alternate streams of revenue are being approached for Nashville's water improvement project.
Once completed, Indiana will sell energy from the coal gasification plant in Rockport even if there are cheaper options.