IURC Issues Final Order on IPL Case

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INDIANAPOLIS -

Indianapolis Power and Light Co. has received approval for a rate increase, however it's less than half of the amount the utility requested. The Indiana Utility Regulatory Commission issued a final order, approving a nearly $30 million increase in annual revenues.

IPL originally requested just under $68 million to cover rising operational costs. The utility says the actual impact on individual customer rates will be determined in the coming days after it develops a new set of rate schedules that is consistent with the IURC's order. The rates and charges must still be filed with and approved by the IURC.

"The Commission appreciates the interest and participation of the public, IPL, OUCC, and the intervening parties in this complex case," said Commission Chair Carol Stephan. "We have every expectation that a transparent, collaborative process will ensure that IPL continues to improve the safety and reliability of its system."

The order also closed the investigation into IPL's underground network. The commission found IPL's network to be "basically sound at this time" and said continued investments will be necessary "to ensure a safe and reliable system."

The investigation was the result of a series of underground explosions that sent manhole covers into the air. In November, IPL completed the installation of over 1,200 locking manhole covers the utility says are "designed to pop up only a few inches in the event of over-pressurization within a manhole."

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