Indianapolis Power & Light Company files regulatory rate review

Indianapolis Power & Light Company (IPL) filed recently its regulatory rate review with the Indiana Utility Regulatory Commission (IURC) to cover the cost of replacing coal plants with new natural gas plants.

“At IPL, we have a responsibility to find the balance between cleaner energy solutions and affordability while maintaining reliability that our customers expect,” IPL President and CEO Rafael Sanchez said. “Our investments in advanced technology have enabled us to significantly reduce our dependence on coal and transition to a more balanced energy mix all while maintaining one of the lowest rates among investor-owned utilities in Indiana.”

If the IURC approves IPL’s request, the bill for a typical residential customer, one using 1,000 kilowatt hours per month, would increase by approximately $14 per month. The proposed rate increase varies among business customers depending on rate class and usage.

If approved, new rates are expected to take effect by the end of 2018.

IPL, a subsidiary of the AES Corporation, noted in a press release that its customers could plan for the increase by using the company’s online rate calculator. IPL also emphasized its billing and payment options, which include budget billing, preferred payment date, payment extensions, and financial assistance.