Dive Summary:

• Six utilities operating in Indiana must refund customers $32 million for money not spent on Energizing Indiana, a rate-funded initiative requiring utilities to invest $74.4 million in energy efficiency programs.
• The utilities are Duke Energy, Indianapolis Power and Light, Indiana Michigan Power, Northern Indiana Public Services Co., Vectren and the Indiana Municipal Power Agency. Launched in January 2012, Energizing Indiana consisted of five main programs, including weatherization for low-income homes and rebates for companies using efficient equipment or appliances.
• The lack of spending is the result of first-year growing pains, Energizing Indiana coordinators say. Despite spending only 57% of the total budget, utilities managed to achieve 73% of its goal of saving 574 million kilowatt hours in 2012.

From the article:

"Simply put, in the opinion of the Evaluation Team, there was not enough ramp-up time, allowing for the levels of increasing participation needed to meet the first year's savings targets," the report noted.