Indianapolis Power & Light gets approval for $1.2B grid modernization
Indianapolis Power & Light Company (IP) got approval from the Indiana Utility Regulatory Commission (IURC) for its $1.2 billion electric grid modernization plan.
The seven-year project will see IPL upgrade and replace aging equipment and invest in new technology, equipment, and systems.
The new investments include a self-healing electric grid, which would allow IPL to isolate problems automatically and re-route power around the problem, and “smart” AMI meters that automatically let IPL know when the power is out and restored.
They will also replace transformers, breakers, batteries, and other aging equipment at substations to meet local energy demands.
“We are pleased with the IURC’s Order because it allows us to modernize our electric system to continue meeting the rapidly changing needs of our customers throughout the Indianapolis area,” said Vince Parisi, president and CEO of Indianapolis Power & Light Company. “Through our revAMP investments, IPL’s goal is to continue to deliver safe, reliable, and affordable energy solutions to all customers.”
The approval does not pertain to new customer rates. IPL is going to file an initial cost recovery request by July 1.
The initiative will support an estimated 880 jobs annually in Marion County, Ind.
IPL provides electric service to more than 500,000 customers in Indianapolis and surrounding communities. It is a subsidiary of the AES Corp.
