INDIANAPOLIS — The Indiana Office of Utility Consumer Counselor (OUCC), Indianapolis Power & Light Company (IPL), and numerous additional parties have reached a comprehensive settlement agreement resolving all issues in the utility’s pending rate case. If approved by the Indiana Utility Regulatory Commission (IURC), the agreement would hold the fixed, monthly residential customer charge for most customers at its current $17 level.
Under the agreement, IPL’s overall operating revenues would increase by $43.9 million. IPL requested a $124.5 million increase when it initiated this case in December 2017. The utility’s request was adjusted to $96.7 million in February 2018 following passage of the federal Tax Cuts & Jobs Act, and then to $88.3 million in rebuttal testimony filed in June 2018.
For customers using more than 325 kilowatt hours (kWh) per month, the monthly residential customer charge will remain at $17. IPL had proposed raising the charge to $27. For customers using 325 kWh or less per month, the monthly residential customer charge will rise from $11.25 to $12.50. IPL had proposed raising the charge to $16.