INDIANAPOLIS, Ind.— Indianapolis Power & Light Company (IPL), a subsidiary of The AES Corporation (NYSE: AES), filed its regulatory rate review today with the Indiana Utility Regulatory Commission (IURC) to cover the cost of replacing older, outdated coal plants with one of the cleanest, most efficient natural gas plants ever to be built in Indiana.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 2018.
“At IPL, we have a responsibility to find the balance between cleaner energy solutions and affordability while maintaining reliability that our customers expect,” said Rafael Sanchez, IPL President and CEO. “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 approved, IPL’s request would result in the typical residential customer, one using 1,000 kWh per month, seeing an increase of a little less than $14 per month. Customers can plan for a potential impact on 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 customers’ bills is a priority for IPL, which is why we provide easy and convenient billing and payment options, including:
- Budget Billing allows customers to pay about the same amount for 11 months and then settle the difference on the 12th month.
- Preferred Billing Date is offered for IPL customers who want a due date that best matches their paydays. This is especially useful for fixed income customers.
- Payment Extensions can be requested online at IPLpower.com or by calling our automated system at 317.261.8222 and selecting option 2 from the main menu.
- Financial Assistance is available by calling the Connect2Help line at 2-1-1.
IPL also offers energy-efficient programs, like IPL PowerView, that provide easy ways to reduce energy and ultimately allows our customers to be in control of their monthly bills. For more information on these resources or to see how this proposed rate increase may affect you specifically, visit IPLpower.com/answers.
About Indianapolis Power & Light Company and AES.
Indianapolis Power & Light Company (IPL), an AES Company, provides retail electric service to more than 490,000 residential, commercial and industrial customers in Indianapolis, as well as portions of other Central Indiana communities surrounding Marion County. During its long history, IPL has supplied its customers with some of the lowest-cost, most reliable power in the country. For more information about the company, please visit www.IPLpower.com or connect with us at www.twitter.com/IPLpower, www.facebook.com/IPLpower or www.linkedin.com/company/IPLpower.
The AES Corporation (NYSE: AES) is a Fortune 200 global power company. We provide affordable, sustainable energy to 17 countries through our diverse portfolio of distribution businesses as well as thermal and renewable generation facilities. Our workforce of 19,000 people is committed to operational excellence and meeting the world’s changing power needs. Our 2016 revenues were $14 billion and we own and manage $36 billion in total assets. To learn more, please visit http://www.aes.com. Follow AES on Twitter @TheAESCorp.
Indianapolis Power & Light Company
Media Hotline: 317.261.5905