Indiana's largest electric utility says the cut is related to federal tax changes, which reduced taxes for many investor-owned utilities.

Indiana's largest electric utility company credits the 2017 GOP tax overhaul for what it estimates will be about $7.33 savings per month for the average customer using 1,000 kilowatt-hours a month.

The Indiana Utility Regulatory Commission approved a rate hike of $96.8 million instead of the $263 million the utility had requested.

Most IPL customers have to pay a fixed charge of $17 a month, but if the utility gets its wish that would jump to $27 a month.

A circuit court ruled that Duke violated its contract with Benton County Wind Farm and has to pay $29 million in damages.

Indianapolis Power and Light seeks a rate hike to cover higher operating and maintenance costs and to cover the costs of the newly built Eagle Valley Generating Station in Morgan County.

The Indiana Utility Regulatory Commission plans April 23 and May 7 public hearings on the proposals that could raise its residential power rates about 10 percent.

The counties the loan will serve include Bartholomew, Brown, Clark, Jackson, Jefferson, Jennings, Lawrence, Monroe, Scott and Washington.

While rates have been on the rise, the Hoosier state is burning less coal for electricity. Coal accounted for 65 percent of the fuel used for electricity in 2016, down from 85 percent in 2007.

The Office of Utility Consumer Counselor is recommending approval of a $125 million rate increase.