IMPA to Lower Wholesale Electric Rates

Posted: Updated:
CARMEL -

The Carmel-based Indiana Municipal Power Agency has announced plans to lower wholesale electric rates in 2018. The utility says rates for more than 60 communities in Indiana and Ohio will drop an average of 5.25 percent beginning in January.

The IMPA says the move is the largest wholesale rate decrease in its history and the second consecutive year in which rates have been lowered. The utility's wholesale rates are based on operating costs, which the IMPA says are lower due to investments in generation and transmission projects over the last 20 years.

"While prices seem to be on the rise for other utilities, IMPA is extremely proud to pass on a decrease in wholesale electric rates to our member municipal utilities for 2018," said Raj Rao chief executive officer of the IMPA. "Thanks to the visionary efforts of our founding fathers in the 1980s, who foresaw the benefits of creating an organization that would own and share generating resources amongst many utilities, our members continue to reap the benefits of municipal ownership and Agency membership. IMPA’s ownership in generation assets, combined with a reduction in regulatory requirements at the federal level and our strong financial position, has enabled us to pass on this decrease to our members."

The IMPA has completed more than a dozen solar parks over the last several years, including one in Anderson that was completed in May. Work is underway on another solar facility in Greenfield.

  • Perspectives

    • #MeToo, Bullying And What We All Can Do Now

      Indeed, it is an interesting time with so much continuing to come out in Hollywood, the media, other industries, and even our state government related to the sexual harassment of women - women who have remained silent for years. Like those women, I too have been harassed in various ways over the course of my career, even in recent years - and yes, even in top leadership roles. The headline about my departure or the email citing that I was moving on never fully told the real story.

    More

Subscribe

Name:
Company Name:
Email:
Confirm Email:
HTML
INside Edge
Morning Briefing
BigWigs & New Gigs
Life Sciences Indiana
Indiana Connections
INPower
Subscribe
Unsubscribe

Events



  • Most Popular Stories

    • U.S. Steel 'Renaissance' Spurs $750M Gary Works Investment

      Pittsburgh-based U.S. Steel Corp. (NYSE: X) has announced a $750 million investment in its Gary Works operations. The company says the funds are part of a $2 billion asset revitalization effort that will take place over the next five years. Last year, U.S. Steel detailed plans that involved pumping $35 million into Gary Works, which followed the $23 million first phase of its Hot Strip Mill Restoration Plan. The latest investment, the Indiana Economic Development Corp. says...

    • Geovani Bonilla

      IU Health Plans Names VP

      Geovani Bonilla has joined Indiana University Health Plans as vice president of medical operations. He previously served as director of utilization management for Johns Hopkins Healthcare.

    • Fort Wayne Radio Icon Butcher Passes Away

      A fixture in the Fort Wayne radio scene has passed away. Charly Butcher spent more than 30 years in Fort Wayne radio with a successful morning show on WMEE-FM and, most recently, as host of "Fort Wayne's Morning News" on WOWO radio. Butcher was 61. Butcher was part of WMEE's popular "Those Two Guys In The Morning" show with Tony Richards in the 1980s. He joined WOWO in the mid-2000s as host of "Fort Wayne's Morning News With Charly Butcher."

    • (photo courtesy City of Fort Wayne)

      Report: One Developer Meets 'North River' Deadline

      A deadline for development plans for a former OmniSource Corp. site has passed with only one group entering a submission. Our partners at WPTA 21 report Minnesota-based Continental Property Group and multiple other groups have shown interest for the now city-owned "North River" property during recent months, but only CPG met Tuesday's deadline. WPTA 21 reported earlier this year CPG and Fort Wayne-based Designed Collaborative had suggested a potential concept that included...

    • Salesforce Begins Pathfinder, Reorganization Efforts

      Salesforce.com Inc. (NYSE: CRM) is underway with the first cohort of its Pathfinder Training Program that is part of the tech giant's ongoing Indianapolis growth. The company is partnering with Deloitte to provide business and technical training to Ivy Tech Community College students and Hoosier veterans looking to become Salesforce administrators and developers. The program comes as the company realigns its Marketing Cloud organization. In a statement, Salesforce says it...