The Lead Off
- Indiana Michigan Power says Indiana customers will see lower electricity rates beginning in June following regulatory approval.
- The average customer bill is expected to decrease by about 3.6%, or roughly $6 per month.
- The Indiana Utility Regulatory Commission has officially approved the rate change.
FORT WAYNE, IND. (WOWO) Indiana Michigan Power says customers across Indiana will see lower electric rates starting in June after a reduction was approved by state regulators.
The company said the average Indiana residential customer will see a 3.6% decrease in their monthly bill, which amounts to approximately $6 in savings.
Rate decrease approved by state regulators
According to Indiana Michigan Power, the rate change has been officially approved by the Indiana Utility Regulatory Commission.
The utility said the adjustment reflects updated financial projections and anticipated revenue gains.
Company cites additional power sales revenue
Indiana Michigan Power said the rate decrease is partly due to expected additional revenue from selling surplus electricity throughout the year.
The company did not announce any changes to service or infrastructure costs as part of the filing.
Customer impact beginning in June
Customers will begin seeing the lower rates reflected in their June billing cycles.
The company has not indicated any additional rate changes planned for later in the year.
Next steps
Indiana Michigan Power will continue operating under the newly approved rate structure as state regulators oversee utility pricing adjustments and financial reporting in the coming months.
