AES Indiana, a subsidiary of The AES Corporation (NYSE: AES) received approval today from the Indiana Utility Regulatory Commission for its quarterly Fuel Adjustment Charge (FAC). AES Indiana customers will see an FAC decrease (as compared to the FAC currently in effect) of $6.58 per 1,000 kwh – approximately 4% of the base bill – beginning March 2023. This decrease will go into effect for the March billing period, which will begin with the February 28 meter reads and it will impact customers on their March, April and May bills.
“This decrease could not come too soon for Hoosiers who have been impacted by the high market prices and other inflationary prices which have undoubtedly caused financial strain,” said Tanya Searcy, Senior Director of Public Relations, AES Indiana. “We remain focused on providing our customers with the most affordable, reliable and sustainable energy.”
The Fuel Adjustment Charge (FAC) is the amount utilities apply on bills based on the varying price of fuel and purchased power costs. These costs are filed quarterly to the Indiana Utility Regulatory Commission and can fluctuate — up and down — based on the cost of fuel. The FAC ensures customers ultimately experience the actual cost of the fuel and purchased power in their rates. In some cases, this results in credits to AES Indiana customers. The FAC factor does not result in any profit to AES Indiana.
AES Indiana offers these energy efficiency tips to continue saving:
- Reduce your thermostat to the lowest comfortable setting when home. Remember, the lower the interior temperature, the slower the heat loss.
- Turn off unneeded lights and heat-producing appliances.
- Apply caulking and weather stripping around interior garage or exterior basement entry doors, and around exterior door and window frames.
- Install insulated draperies or blinds around large windows.
- Keep registers and air vents clear of obstructions.
- Purchase LED bulbs which use up to 90% less energy than incandescent bulbs and last up to 25 times longer. The average home uses 40 bulbs.
AES Indiana understands every household is different and offers a variety of resources to help customers with bill payment:
Payment options and programs
- Budget Billing allows customers to pay the same amount for 11 months and then we’ll “settle up” with a credit or balance due in month 12. Budget amounts can be adjusted once every three months, as the actual energy use is factored into the rolling 12-month average.
- Payment Extensions can be requested online at AESIndiana.com or by calling the automated system at 317-261-8222
- Preferred Bill Date is offered for AES Indiana customers who want a due date that best matches their paydays.
Financial assistance resources
- Energy Assistance Program (EAP) is a government program that runs through May. Customers must meet the income guidelines to qualify.
- Winter Assistance Fund runs through May for Marion County residents and there are significant funds available. Customers must meet the income guidelines to qualify. The Winter Assistance Fund helps those who cannot afford heat and electricity but do not qualify for the government's Energy Assistance Program.
- Power of Change is AES Indiana's emergency relief fund is available thanks to donations from AES Indiana and our customers. The program was created by AES Indiana with input from community groups and stakeholders to offer a hand up during a time of need.
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 Twitter, Facebook and LinkedIn. For more information about how AES Indiana is accelerating the future of energy, visit aesindiana.com/hellofuture.