May 30, 2018

Indiana Michigan Power Rate Increase Approved

Article origination IPBS-RJC
Indiana Michigan Power Rate Increase Approved

Indiana Michigan Power will get less than half of the rate increase it was hoping for. On Wednesday, the Indiana Utility Regulatory Commission approved a rate hike of $96.8 million instead of the $263 million the utility had requested. 

READ MORE: OUCC Says I&M Rate Increase Too High

That means the flat charge for residential customers would go up by $3.20 per month. Indiana Michigan Power will also credit $4 million to its customers as a result of the tax breaks it got from the Tax Cuts and Jobs Act.

Read more about the rate increase here

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