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Indiana has enacted a new statute giving authority to state regulators to approve flexible regulation for energy utilities. The legislature found current law inadequate to deal with rising energy competition.

Under the new law the Indiana Utility Regulatory Commission may institute performance-based rate plans based on market prices, price caps, or index-based prices, as long as the new method is designed to "promote efficiency in the rendering of retail energy services." Participation by the utilities is voluntary, however, as the law requires a petition by each utility to accept performance-based rates before the commission can act. Energy Utilities-Alternative Utility Regulation, P.L. 108-1995, S.E.A. No. 637, April 26, 1995.

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