IPL Credit Proposal Approved

Posted: Updated:
INDIANAPOLIS -

The Indiana Utility Regulatory Commission has approved a proposal from Indianapolis Power & Light Co. to credit $9.5 million back to customers over the next six months. The credit is the result of the Tax Cuts and Jobs Act and the utility say the average residential customer will pay approximately $1.50 less on their monthly electric bills.

"The IURC’s approval of this credit for the 2018 impact of the reduction of the federal income tax rate ensures our customers timely benefit from federal tax reform," said Craig Jackson, chief executive officer of IPL. "This reform will help us solidify our position as having one of the lowest residential rates among investor-owned utilities, while continuing to provide safe and reliable service to our 490,000 customers."

The approval comes as IPL awaits a decision from the IURC regarding a settlement agreement with the Indiana Office of Utility Consumer Counselor and various other stakeholders on the utility's proposed electric rate increase. A final decision on the proposal is expected by the end of the year.

IPL is not the only Indiana utility to offer credit to customers because of the Tax Cuts and Jobs Act. Last month, Duke Energy Indiana received approval from the IURC to implement tax savings to customers, who will see an average monthly savings of $7.33 on their electric bills by 2020.

  • Perspectives

    • 3 Tips to Attract and Retain Employees in the Gig Economy

      The gig economy has been around ever since workers began looking for supplemental income, but, it has recently evolved with the introduction of technology. Companies emerging like Uber, Lyft and GrubHub, are changing the gig economy landscape of the workforce. The gig economy has attracted millennials and Gen Zers because of the flexibility and autonomy to work from anywhere, at any time.

    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

    • (photo courtesy of Indianapolis International Airport)

      Indy Airport Showcases New Retail Offerings

      Indianapolis International Airport is celebrating the opening of the first wave of new retail offerings. The new stores are part of the airport's multi-year Concessions Refresh initiative, which aims to bring a greater mix of nationally-known brands, such as FAO Schwarz and Vineyard Vines, with more local offerings, including Natalie's Candy Jar and Fountain Square Market. In all, nine new retail stores opened Tuesday morning. In an interview with Inside INdiana Business...

    • (Image of downtown Shelbyville courtesy of Mainstreet Shelbyville Inc.)

      Shelbyville Unveils Major Downtown Redevelopment

      The city of Shelbyville is announcing what it calls a major downtown redevelopment project to boost overall quality of life. The project plans feature green spaces, increased parking, market-rate housing, and infrastructure for public entertainment and community events. 

    • The IU School of Informatics, Computing and Engineering will now be named for Fred Luddy for his $60M gift. (photo courtesy James Brosher/IU)

      $60M Gift to Fund AI Center

      An Indiana University alumnus who founded the information technology firm, ServiceNow, has given his alma mater $60 million to establish an artificial intelligence center. The university says the gift from cloud-computing pioneer Fred Luddy is the second largest in the history of the IU.

    • DePauw University ranked No. 20 on list of Best "Colleges"

      Small Indiana Colleges Rank High Nationally

      Indiana has two institutions of higher learning, with intentionally small enrollments, that rank in the top 30 in the nation for an overall experience.  The personal finance website, WalletHub, conducted a survey of what it calls the 2020 Best College Ranking. 

    • Transpo is South Bend's municipal bus system. (photo courtesy of Transpo)

      South Bend Launches Free Fare Program

      The city of South Bend has launched a new initiative to help a select number of residents who don’t have reliable and easy access to transportation get to work. The program is called Commuters Trust.