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Thursday, January 14, 2021

IPL seeks rate increase to cover cost of meeting customer needs

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Indianapolis Power & Light Company (IPL), a subsidiary of The AES Corporation (NYSE: AES), requested a rate increase today with the Indiana Utility Regulatory Commission (IURC) to cover the cost of replacing older and outdated generation with one of the cleanest, most efficient natural gas plants ever to be built in Indiana. If IPL’s request is approved by the IURC, new rates are expected to be effective by the end of  2017. IPL is also seeking approval for customers to benefit financially from the sale of any power from the new natural gas plant not needed to serve our community.

“We are moving in a  direction that allows us to build a diverse, reliable and cleaner portfolio of generation while keeping costs affordable for our customers,” said Rafael Sanchez, IPL President and CEO. “We understand the impact a monthly electric bill has for our customers and we are approaching the future with investments, which benefit our customers including a balanced mix of natural gas, coal, solar and wind, as well as energy storage to support the addition of alternative power sources.”

IPL’s request would result in the typical residential customer using 1,000 kWh per month seeing an increase of around $10 per month in their bill if approved. Customers can plan for potential impacts in their bills by utilizing our Rate Calculator on IPLpower.com/answers. The proposed rate increase will vary among business customers depending on rate class and usage.

Minimizing the impact on customer bills is a priority for IPL. IPL will likely maintain some of the lowest residential rates among investor-owned utilities in Indiana, but still encourages customers to manage usage and cost by utilizing our  energy-efficiency programs called PowerToolsSM, including the following:

  • IPL PowerView: Use this web-based tool to receive detailed, personalized information about how to manage your electricity usage, including charts, graphs and tips.
  • Home Energy Assessment: Have a professional energy advisor conduct a free walk-through energy assessment in your home. He or she will install free energy-saving equipment and offer recommendations for improving your home’s energy use.
  • Home Energy Inspector: Fill out a questionnaire which analyzes your energy use and helps determine ways you can save. Upon completion, IPL will send you a free energy efficiency kit.

For more information on these resources or to see how this proposed rate increase may affect you specifically, visit IPLpower.com/answers.

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