Indianapolis residents can expect higher electric bills after the Indiana Utility Regulatory Commission approved a $71 million base rate increase for AES Indiana. The utility serves more than 530,000 customers across central Indiana.

Rate Increase Details

AES says a household using about 1,000 kilowatt-hours (kWh) a month will pay under $5 more per month. New rates will be implemented in two phases, starting this July with the second phase starting in January 2027. Customers are expected to see less than a $10 increase per month within the next year.

No additional base rate increases can happen before 2030. AES Indiana also agreed to delay system upgrade charges until at least 2028 to ease near-term cost pressures on families. A different fuel adjustment adds another $9.52 a month through August due to higher fuel costs.

Brandi Davis-Handy, President of AES Indiana, stated that the company has maintained some of the lowest rates in the state through disciplined planning and a focus on efficiency. However, Indiana Governor Mike Braun expressed disappointment with the IURC’s approval, citing the impact on families already dealing with rising expenses.

Original reporting: 93.1 WIBC (Indianapolis) — read the source article.