INDIANAPOLIS, Ind.— Indianapolis Power & Light Company (IPL), a subsidiary of The AES Corporation (NYSE: AES), filed today an update to its Regulatory Rate Review request with the Indiana Utility Regulatory Commission (IURC) lowering the requested increase by nearly $30 million, as a result of the Tax Cuts and Jobs Act of 2017. The typical residential customer using 1,000 kilowatt-hours per month will pay approximately $2.50 less per month than previously expected if approved by the IURC.
“The Tax Cuts and Jobs Act of 2017 gives IPL the ability to provide a benefit to customers by reducing our rate request while continuing to provide safe and reliable service to our customers” said Ken Zagzebski, President and Chief Executive Officer, IPALCO Enterprises, IPL’s holding company. “This reform created the opportunity to pass federal tax savings along to our 490,000 customers and will help us solidify our position as having one of the lowest residential rates among investor-owned utilities.”
If approved by the IURC, new rates will become effective by the first quarter of 2019. For more information on how the Tax Cuts and Jobs Act of 2017 may affect your bill, visit IPLpower.com/answers to use our rate calculator.
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 16 countries through our diverse portfolio of distribution businesses as well as thermal and renewable generation facilities. Our workforce of 10,500 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
Office: 317.829.7737, Media Hotline: 317.261.5905