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IPL requests approval for modernization plan

Posted at 10:51 PM, Jul 25, 2019
and last updated 2019-07-25 22:51:36-04

INDIANAPOLIS — Indianapolis Power & Light is asking state regulators to approve a 7-year plan to modernize its electric grid, and it would come with a potential slight rate increase for customers.

If the Indiana Utility Regulatory Commission approves the $1.2 billion, IPL will present its initial request next year to recover those costs.

A company vice president told RTV6 it is expected the average customer would pay an additional $1.50 per year for seven years for a total increase of $10.50.

VP of External Affairs Fred Mills said grid modernization is expected to improve reliability and lead to shorter and fewer outages.