FORT WAYNE, Ind. (WOWO): Schools and businesses are also worried about a proposed rate increase from Indiana Michigan Power.

Residential customers have been up in arms about I&M’s proposal to increase rates by 11.75%, which would cause the typical customer’s bill to go up by about $21 a month… but for entities like Fort Wayne Community Schools, that hike is more than $400,000 a year.

The Journal Gazette reports that Indiana Tech would pay $85,000 more per year if the increase is approved.

The utility says it needs the increase for equipment upgrades, including providing every customer a “smart meter” so they can more easily monitor their power usage. State regulators will decide on the increase in March.