Indiana Michigan Power (I&M) Rates

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

• Proposed Generation Projects (IURC Cause Nos. 45868 & 45869)

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.

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's authorized trackers make up about 21.6% of a residential customer's typical electric bill as of March 2023.

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

Tracker	Recovers Costs for	Frequency	IURC Cause No.
Fuel Adjustment Clause (FAC)	Coal, nuclear and other fuel costs	Semi-Annual	38702
Environmental Cost Recovery (ECR)	Emissions control equipment (including operations & maintenance)	Annual	44331, 44523, 43992
Demand Side Management (DSM)	Energy efficiency programs	Annual	43827
Off-System Sales (OSS)	Power sales to the wholesale market	Annual	43775
PJM Interconnection (PJM)	Regional transmission costs	Annual	43774
Life Cycle Management (LCM)	Construction costs for pre-approved Cook nuclear plant projects	Annual	44182
Resource Adequacy Rider (RAR)	Purchased power capacity cost changes	Annual
Phase-In Rate Adjustment (PRA)	Phase-in of new base rates	Annual
Solar Power Rider (SPR)	Renewable energy projects	Annual	44511
Green Rider	Voluntary renewable energy program

Previous I&M cases before the IURC include:

• Current fuel cost adjustment (Cause No. 38702- FAC 90)
• Proposed Economic Development Tariff (Cause No. 45781)
• Financing Request (Cause No. 45806)
• Distributed generation tariff (IURC Cause No. 45506)
• Current energy efficiency plan (Cause No. 45701)
• Utility Receipts Tax removal (Cause No. TD-50508)
• Fuel cost adjustment (Cause No. 38702-FAC 89)
• 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)

4-26-2023