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Indiana Michigan Power (I&M) Rates

Pending cases for Indiana Michigan Power (I&M) include the utility's:

Base rates cover most infrastructure and operating/maintenance costs while rate adjustment “trackers,” as described below, allow for more frequent rate changes for specific costs as designated by law. The trackers were re-set when I&M's current base rates were approved in March 2020 and are still subject to adjustments every six or 12 months.

As of July 2022, approximately 88 percent of a typical I&M residential customer’s bill paid the base rate, with the remaining 20 percent being recovered through trackers.

In the 2022 IURC survey of residential electric utility bills, I&M's typical bill ranked third-highest among the 12 electric utilities under the IURC’s jurisdiction.

Base Rates

A settlement agreement reducing I&M's base rates was approved in February 2022.

I&M's most recent Indiana base rate case concluded in March 2020.

The utility's prior base rates were approved in May 2018.

Trackers

In addition to base rates, Indiana electric utilities recover and credit separate, specific costs through rate adjustment mechanisms known as "trackers." I&M's rate adjustments via trackers are reviewed by the OUCC and approved by the IURC on a semi-annual or annual basis.

I&M uses the following trackers. All filings are available by entering the cause number in the IURC's Online Services Portal.

TrackerRecovers Costs forFrequencyIURC Cause No.
Fuel Adjustment Clause (FAC)Coal, nuclear and other fuel costsSemi-Annual38702
Environmental Cost Recovery (ECR)Emissions control equipment (including operations & maintenance)Annual44331, 44523, 43992
Demand Side Management (DSM)Energy efficiency programsAnnual43827
Off-System Sales (OSS)Power sales to the wholesale marketAnnual43775
PJM Interconnection (PJM)Regional transmission costsAnnual43774
Life Cycle Management (LCM)Construction costs for pre-approved Cook nuclear plant projectsAnnual44182
Resource Adequacy Rider (RAR)Purchased power capacity cost changesAnnual 
Phase-In Rate Adjustment (PRA)Phase-in of new base ratesAnnual 
Solar Power Rider (SPR)Renewable energy projectsAnnual44511
Green RiderVoluntary renewable energy program  

Previous I&M cases before the IURC include:

  • Utility Receipts Tax removal (Cause No. TD-50508)
  • Current fuel cost adjustment (Cause No. 38702-FAC 98)
  • Base rate case (Cause No. 45576)
  • Rockport Generating Station Settlement (Cause No. 45546)
  • COVID-19 investigation (Cause No. 45380)
  • 2017 Tax Cuts & Jobs Act investigation (Cause No. 45032)
  • 7-year infrastructure plan (Cause No. 44542)
  • Energy efficiency plan (Cause No. 45285)
  • Cook Nuclear Plant life cycle management (Cause No. 44182)
  • Rockport Generating Station emission controls (Cause Nos. 44871 & 44331)

10-26-2022