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IPL withdraws rate increase request; request was to cover Martinsville plant cost

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Posted at 12:36 PM, Feb 24, 2017
and last updated 2017-02-24 12:36:06-05

INDIANAPOLIS -- IPL has withdrawn a request for a rate increase, meaning your electric bill, which could've went up this year, won't be affected by its upcoming plans in Martinsville. 

IPL requested a rate increase in December 2016 to cover the cost of building a natural gas plant in Martinsville, Indiana.

On Friday, IPL announced the plant won't be complete by April 30, 2017 as initially thought. 

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The company still plans to request a rate increase, but it's waiting on a new construction timeline. 

Under the proposed rate increase, customers who use about 1,000 kilowatt-hours per month would have paid about $10 more per month.

The state approved a rate increase in 2016. IPL will collect $29.6 million per year through the rate increase. It was the first base rate increase since 1995.

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