updated: 12/29/2014 3:31:02 PM
IPL Requests Rate Increase
Indianapolis Power & Light Co. has filed a rate increase request with the Indiana Utility Regulatory Commission. The utility says the proposal, which would result in the average residential customer seeing an increase of about $8 per month, is due to rising operational costs.
December 29, 2014
News Release
Indianapolis, Ind. -- Indianapolis Power & Light Company (IPL), a subsidiary of The AES Corporation (NYSE: AES), requested a rate increase today with the Indiana Utility Regulatory Commission (IURC) to cover the rising operational cost of providing safe and reliable electricity, as well as enhanced customer service functions. If IPL's request is approved by the IURC, new rates would go into effect toward the end of 2015. IPL currently has the lowest residential rates of the 20 largest cities in the U.S.
"The people of IPL take pride in providing high reliability and great service to our customers, while also being efficient to keep our costs low," said Kelly Huntington, IPL President and CEO. "As the costs to do business rise we must make adjustments to maintain the safe and reliable electric service our customers depend upon."
If approved, IPL's request would result in the average residential customer seeing an increase of about $8 per month. The proposed rate increase will vary among business customers depending on rate class and usage.
The requested rate increase will cover the escalation in costs of providing reliable electricity, including operation, maintenance and general business expenses. IPL ranks in the top 10 percent nationally in reliability. IPL has made improvements to customer service offerings including the following:
--Redesigning our bill statement to make it more informative and user-friendly
--Investing in upgraded website and phone system features for a more user-friendly experience
--Enhancing our self-service billing and payment options on IPLpower.com including a new EZ-Pay payment option which allow customers to make payments online using their credit card or debit card for a reduced fee
--Making it easier for customers to report and receive information about outages day or night via our automated telephone system, social media or online at www.IPLpower.com
IPL has programs available for customers to help manage costs including Budget Billing, which provides customers with predictable monthly payments by allowing you to pay the same amount for 11 months and then settle the difference on the 12th month. There are also a variety of Power ToolsSM programs to help customers reduce their household's energy use.
For more information on these resources and to see how this proposed rate increase may affect you specifically, go to IPLpower.com/answers to use our rate calculator.
About Indianapolis Power & Light Company and AES.
Indianapolis Power & Light Company (IPL), an AES Company, provides retail electric service to more than 470,000 residential, commercial and industrial customers in Indianapolis, as well as portions of other Central Indiana communities surrounding Marion County. During its long history, IPL has supplied its customers with some of the lowest-cost, most reliable power in the country. For more information about the company, please visit www.IPLpower.com or connect with us at www.twitter.com/IPLpower, www.facebook.com/IPLpower or www.linkedin.com/company/iplpower.
The AES Corporation (NYSE: AES) is a Fortune 200 global power company. We provide affordable, sustainable energy to 20 countries through a diverse portfolio of distribution businesses as well as thermal and renewable generation facilities. Our workforce of 17,800 people is committed to operational excellence and meeting the world's changing power needs. AES' 2013 revenues were $16 billion, and we own and manage $40 billion in total assets. To learn more, please visit www.aes.com. Follow AES on Twitter @TheAESCorp.
Source: Indianapolis Power & Light Co.