I&M requesting 11.75% rate increase

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Indiana Michigan Power is asking for an 11.75% rate increase.

In plans sent to the Indiana Utility Regulatory Commission Tuesday, I&M’s “Innovate Indiana” plan would include installing “smart meters” at every customer’s home to better respond to outages and allow customers to monitor their own energy use using their smartphone or computer.

The plan would also offer customers rebates for buying equipment to charge electric vehicles.

However, those plans also include a three-step increase that would amount to an additional cost of $21.11 for the average customer. That includes an increase in the monthly service cost.

I&M got a 7% rate increase just last year. Read the full plan below.

Innovate Indiana FAQ

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