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Indiana Michigan Power 2023 Rate Case

Indiana Michigan Power (I&M), the OUCC, and additional parties have reached a settlement agreement in the utility's pending rate case.

  • Under the settlement agreement I&M’s requested $116.4 million increase was reduced to $56.9 million (inclusion of rider revenues adjusts the increase to $61.8 million).
  • The utility's initial request would have increased annual revenues by approximately $116.4 million.
  • In testimony filed on Nov. 15, 2023, the OUCC recommended limiting the increase to about $43.1 million.
  • The OUCC is the state agency - separate from the IURC - that represents all consumers in cases before the Commission.
  • All publicly filed documents in this case (Cause No. 45933) are available on the IURC's website.

A Commission order is expected in Spring 2024.

UPDATE 5-8-24: The IURC issued a final order on May 8, 2024.

Previous Rate Cases

  • 2021-2022 Rate Case (Current Rates)

    The IURC set I&M's current rates on Feb. 23, 2022, approving a settlement agreement reached by the OUCC, I&M, and other parties in November 2021.

    In its initial case filed on July 1, 2021, I&M requested a two-phase rate increase that would have raised its annual operating revenues by $104 million (6.5%) and raised an average 1,000 kWh monthly residential bill using from $157.82 to $167.29 when fully implemented in 2023.

    The IURC held public field hearings in this case in South Bend and Fort Wayne. More information is available from the OUCC's Aug. 10, 2021 news release.

    The OUCC filed testimony on Oct. 12, 2021 recommending denial of the utility's request.

    All public documents in the case are available from the IURC's electronic document system.

  • 2019-2020 Rate Case

    The IURC approved I&M's previous base rates in March 2020, allowing an annual increase of $84 million. I&M had originally requested a $172 million increase.

    The OUCC's August 2019 news release summarizes the agency's testimony, in which the OUCC recommended an increase of less than $2 million.

This page will be updated based on future developments.