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IPL customers may see electric bill go up $14 per month by end of 2018

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INDIANAPOLIS, Ind.– Indianapolis Power & Light (IPL) is petitioning the state for a rate hike.

If approved, the request would result in the typical residential customer seeing an increase of about $14 per month.

The money would be used to “cover the cost of replacing older, outdated coal plants with one of the cleanest, most efficient natural gas plants ever to be built in Indiana,” according to IPL.

The new rates would be seen by the end of 2018.

“At IPL, we have a responsibility to find the balance between cleaner energy solutions and affordability while maintaining reliability that our customers expect,” said Rafael Sanchez, IPL President and CEO. “Our investments in advanced technology have enabled us to significantly reduce our dependence on coal and transition to a more balanced energy mix all while maintaining one of the lowest rates among investor-owned utilities in Indiana.”

Critics like the Citizens Action Coalition say IPL already raised rates about two years ago and they are worried about the most vulnerable customers like senior citizens on a fixed income.

“It’s not too big of a stretch to say meals will get skipped. Prescriptions will get cut in half. This is significant for those  kinds of populations,” said CAC Executive Director Kerwin Olson.

Olson isn’t against cleaner reliable energy, he just doesn’t think a new power plant was necessary now. At the very least, he believes IPL could’ve found a way to ease the burden on the consumer.

“You can delay costs. You can accrue costs. You can have a phased-in rate increase, so to speak, but IPL is not seeking that in this case. And they want it all up front,” said Olson. “The company is financially healthy, financially strong, and rate payers aren’t. And so who picks up the tab and when really is the question that needs to be decided.”

IPL says customers can plan for a potential impact on a bill by using this rate calculator or any of its billing and payment options, including:

  • Budget Billing allows customers to pay about the same amount for 11 months and then settle the difference on the 12th month.
  • Preferred Billing Date is offered for IPL customers who want a due date that best matches their paydays. This is especially useful for fixed income customers.
  • Payment Extensions can be requested online at IPLpower.com or by calling our automated system at 317.261.8222 and selecting option 2 from the main menu.
  • Financial Assistance is available by calling the Connect2Help line at 2-1-1.