Indianapolis Power & Light Company (IPL), a subsidiary of The AES Corporation (NYSE: AES), announced today that it filed a Settlement Agreement in its Regulatory Rate Review with the Indiana Utility Regulatory Commission (“IURC”). The widely-supported Settlement with the Indiana Office of Utility Consumer Counselor and 10 additional stakeholders balances the interests of IPL’s residential, commercial, and industrial customers, and provides IPL the resources to continue meeting our customer reliability needs while investing in advanced technology that enables the Company to significantly reduce its dependence on coal and operate a more balanced energy mix.
“This proposed settlement represents a compromise among the parties that has IPL at the forefront of implementing energy solutions that take into account affordability for our customers while moving towards a cleaner energy future,” said IPL President and CEO, Craig Jackson. “We will continue to make smart investments to provide customers with the safe and reliable service they depend on.”
If approved by the IURC, the impact for a typical residential customer using 1,000 kilowatt hours per month is approximately $5 per month. This settlement passes savings to customers flowing from the federal Tax Cuts and Jobs Act of 2017. IPL will also contribute $1.2 million toward the creation of additional customer programs to assist low-income customers.
IPL remains a low-cost utility, maintaining one of the lowest residential rates among investor-owned utilities in Indiana. If approved by the IURC, new rates will become effective by the end of 2018. For more information about how IPL’s Regulatory Rate Review may affect your bill, 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 IPLpower.com or connect with us at twitter.com/IPLpower, facebook.com/IPLpower or linkedin.com/company/IPLpower.
The AES Corporation (NYSE: AES) is a Fortune 500 global power company. We provide affordable, sustainable energy to 15 countries through our diverse portfolio of distribution businesses as well as thermal and renewable generation facilities. Our workforce is committed to operational excellence and meeting the world’s changing power needs. Our 2017 revenues were $11 billion and we own and manage $33 billion in total assets. To learn more, please visit www.aes.com. Follow AES on Twitter @TheAESCorp.
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