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I&M proposes Innovate Indiana plan that increases rates by 11.75%

FORT WAYNE, Ind. (WPTA21) — Indiana Michigan Power (I&M) has submitted a plan that could increase your monthly bill.

I&M says the Innovate Indiana program submitted to the Indiana Utility Regulatory Commission (IURC) on Tuesday aims to develop a smarter energy grid.

They say the updated grid will include smart meter technology they claim will reduce the number, extent and duration of power outages, and give better control of energy usage.

The change would increase rates by 11.75 percent if the plan is approved.

The change would be implemented in three phases. The first phase would start in spring 2020, the second would start on June 1, 2020, and the third would start in early 2021.

Once it takes effect, I&M says the monthly increase would be $21.11 for a residential customer using 1,000 kilowatt hours of electricity per month.  

They say the increased rates includes the proposed raising of their service charge from $10 to $15, which they claim more accurately reflects the true costs of serving a residential customer.

The Innovate Indiana plan also includes:

  • Rebates and special rates for charging electric cars overnight along with incentives for businesses and fleet vehicles.
  • Reimbursing employers for qualifying apprenticeships and training
  • A new Building Development Program creating a fund to help construct spec buildings
  • Programs to assist low-income customers having difficulty paying their utility bills.

Read frequently asked questions about the plan below

Jazlynn Bebout

Jazlynn Bebout is the Assignment Desk Editor and Digital Editor at WPTA. Follow her on Twitter @jazlynnsb

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