IPL Looking to Increase Rates

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INDIANAPOLIS -

Indianapolis Power & Light Co. is seeking approval for a rate increase from the Indiana Utility Regulatory Commission to cover the cost of a new natural gas plant. If approved, IPL customers could see their monthly electric bills increase by around $10.

IPL says the new plant would be "one of the cleanest, most efficient natural gas plants ever to be built in Indiana." The utility is also requesting approval from the IURC for customers to financially benefit from the sale of additional power generated by the new natural gas plant that is not needed to serve the community.

"We are moving in a direction that allows us to build a diverse, reliable and cleaner portfolio of generation while keeping costs affordable for our customers," said Rafael Sanchez, chief executive officer of IPL. "We understand the impact a monthly electric bill has for our customers and we are approaching the future with investments, which benefit our customers including a balanced mix of natural gas, coal, solar and wind, as well as energy storage to support the addition of alternative power sources."

The $10 per month increase would be for the typical residential customer using 1,000 kWh each month. IPL says the proposed rate increase would vary among business customers "depending on rate class and usage." 

If approved by the IURC, the new rates could go into effect by the end of 2017.

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