AES Indiana, a subsidiary of The AES Corporation (NYSE: AES), has filed a settlement in the Regulatory Rate Review request with the Indiana Utility Regulatory Commission (IURC). This comes after AES Indiana reached a unanimous agreement with the Office of Utility Consumer Counselor (OUCC) and six intervening parties which represent the interests of residential, commercial, industrial and low-income customers. If approved, the settlement sets the foundation that will enable AES Indiana’s ability to execute on its investments focused on reliability, resiliency and customer experience, and recover inflationary impact of cost increases since our last rate case (2017).
If approved by the IURC, AES Indiana’s residential rates will continue to be among the lowest of the investor-owned electric utilities in Indiana. A residential customer using 1,000 kWh a month will see a $9.52 increase, or approximately 7.3%.
Under the new settlement, AES Indiana will introduce several customer benefits which include the elimination of residential customer disconnections on Fridays, weekends and certain holidays, increased investments in vegetation management, and greater protections for customers with Medical Alerts. Additionally, AES Indiana will contribute $50,000 in 2024 to the "Power of Change" program and another $50,000 to the Indiana Community Action Association.
“We have a commitment to our customers and community to ensure safe, reliable electricity at an affordable price,” said Ken Zagzebski, President and CEO, AES Utilities. “This agreement is a critical step forward to make certain the necessary investments continue, creating meaningful reliability improvements in how we serve our customers.”
Throughout the process, all parties involved were committed to keeping the customers’ interests as a top priority. The agreement will now go before the IURC for review where an evidentiary hearing is currently scheduled for the week of December 19, 2023.
AES Indiana remains committed to providing reliable energy services while actively addressing the evolving needs of its customers and communities.
Learn more at aesindiana.com/rate-review.
About AES Indiana
AES Indiana, an AES Company, provides retail electric service to more than 500,000 residential, commercial and industrial customers in Indianapolis, as well as portions of other Central Indiana communities surrounding Marion County. During its long history, AES Indiana has supplied its customers with some of the lowest-cost, most reliable power in the country. For more information about the company, please connect with AES Indiana on X (formerly Twitter), Facebook, Instagram and LinkedIn. For more information about how AES Indiana is accelerating the future of energy, visit aesindiana.com/hellofuture.