INDIANAPOLIS — Indianapolis Power & Light Company (IPL) received approval from the Indiana Utility Regulatory Commission (IURC) to immediately begin crediting approximately $9.5 million back to customers over the next six months 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 $1.50 less per month.
The $9.5 million is in addition to IPL’s recently proposed Regulatory Rate Review Settlement, which includes nearly $29 million of annual federal tax savings and an additional $14.3 million in deferred tax savings. IPL is waiting to receive a final order on its pending Regulatory Rate Review Settlement by the end of 2018. For more information about IPL’s Regulatory Rate Review and how it could impact your bill, visit IPLpower.com/answers to use the rate calculator.