INDIANAPOLIS, Ind.— Indianapolis Power & Light Company (IPL), a subsidiary of The AES Corporation (NYSE: AES), received an order today from the Indiana Utility Regulatory Commission (IURC) approving a settlement of its Regulatory Rate Review. The approved settlement primarily covers the cost of replacing an older, outdated coal plant with one of the cleanest, most efficient natural gas plants ever built in Indiana. The impact for a typical residential customer using 1,000 kilowatt hours per month is approximately $5 per month, and IPL anticipates implementing new rates before the end of this year.
“We take great pride in having the lowest residential rates among investor-owned utilities in Indiana,” said IPL President and CEO Craig Jackson. “We will continue to make smart investments that provide our 490,000 customers a safer, greener, and more sustainable energy future.”
The rate review, initially filed in December 2017, was settled with the Indiana Office of Utility Consumer Counselor, Citizens Action Coalition, and nine additional stakeholders, balancing the interests of IPL’s customers while continuing to meet reliability needs. The unopposed settlement included passing savings to customers from the federal Tax Cuts and Jobs Act of 2017 and IPL providing approximately $1.2 million toward the creation of additional customer programs to assist low-income customers.
IPL encourages customers to manage their costs by utilizing energy efficiency programs at IPLpower.com/WaysToSave. Additionally, the following resources are available for IPL customers with financial challenges:
- Budget Billing gives customers a more predictable monthly energy bill by evening out the highs and lows so customers pay about the same amount each month.
- Payment Extensions can be requested online at IPLpower.com or by calling the automated system at 317.261.8222 and selecting option 2 from the main menu.
- Preferred Bill Date is offered to IPL customers who want a due date that best matches their paydays. This is especially useful for fixed income customers.
- Financial Assistance is available by calling the Connect2Help line at 2-1-1.
For more information about IPL’s Regulatory Rate Review, 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 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.
Indianapolis Power & Light Company