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Powering Our Future in Indiana

We are committed to improving the customer experience by enhancing reliability and offering innovative options. Our Powering Our Future program, submitted August 9, 2023 to the Indiana Utility Regulatory Commission, outlines the next steps needed to continue this commitment. On December 21, 2023 we reached a settlement with the Indiana Office of Utility Consumer Counselor (OUCC) and other organizations and municipalities to move forward. The settlement is pending before the Indiana Utility Regulatory Commission (IURC).

The Powering Our Future plan benefits customers by:

  • Improving reliability by replacing old equipment, continuing tree trimming and installing new grid technologies resulting in fewer and shorter power outages.
  • Giving the opportunity for I&M to launch a pilot program to provide residential customers with more bill payment options that meet their needs and lifestyles.
  • Using technology to provide an improved customer experience through better access to account information, shorter customer service call times and overall improved communication options.
  • Beginning the process of evaluating the future of Cook Nuclear Plant beyond its current mid-2030s license expirations.

Under the settlement, I&M’s overall rate request of $116.4 million was reduced to $56.9 million plus $4.9 million in rider revenues, totaling $61.8 million.

The increase will occur in two phases. In the first phase, a typical residential customer using 1,000 kilowatt hours of electricity would pay $166.36 per month, an increase of $4.20, effective in mid-2024. In the second phase, a typical resident would pay an additional $4.27 beginning in January 2025, resulting in a bill of $170.63 and a total increase of 5.2%.

We carefully weigh the impact that every project has on the cost of service to customers. Our goal was to find a balance between affordability and investments that are necessary to improve reliability. In addition, we continually review operations and look for ways to be more efficient and cost-effective.

Improvements by Community

South Bend Area Fort Wayne Area Muncie Area Find Infrastructure Improvements Near You

Check out our project plans to modernize the electric grid in greater South Bend, Fort Wayne and Muncie. We’re rebuilding power lines, replacing poles and upgrading substation equipment to safely bring power to nearby neighborhoods. Select a city to find what’s happening near you.

Improvements by Community

Find Infrastructure Improvements Near You

Check out our project plans to modernize the electric grid in greater South Bend, Fort Wayne and Muncie. We're rebuilding power lines, replacing poles and upgrading substation equipment to safely bring power to nearby neighborhoods. Select a city to find what's happening near you.

South Bend Area Fort Wayne Area Muncie Area

Improvements by Community

Find Infrastructure Improvements Near You

Check out our project plans to modernize the electric grid in greater South Bend, Fort Wayne and Muncie. We're rebuilding power lines, replacing poles and upgrading substation equipment to safely bring power to nearby neighborhoods. Select a city to find what's happening near you.

Enhancing reliability

Under the settlement agreement, I&M will continue to enhance reliability of service with technology and updates to aging infrastructure.

  • Replacing more than 2,800 poles and replacing 240 miles of power lines.
  • Upgrading 15 substations.
  • Inspecting and maintaining trees and other vegetation along more than 5,000 line miles. Vegetation is the No. 1 cause of customer outages.
  • Installing more “self-healing” grid technology to detect power outages and automatically re-route electricity to customers.

Customer Information System

I&M's Powering Our Future plan includes a multi-year project to implement new customer information system that will enable I&M to meet customers' expectations by providing a modern platform to communicate through texts, e-mail, smart-phone apps and the company's website.

This system will allow I&M to offer customers additional programs and position I&M to serve its customers as new technologies and customer expectations continue to evolve.

Cook Nuclear Plant

Under the settlement, I&M can spend up to $5 million to take the initial step in determining whether to seek approval for a 20-year license extension of the Cook Nuclear Plant, which is capable of powering more than 1.5 million typical homes. Its two units that separately generate power are licensed through 2034 and 2037, respectively. Though those dates are over a decade away, the process for extending the license of a nuclear plant is lengthy and requires much advance work.

The possibility of a Cook license extension will be included in I&M's 2024 Integrated Resource Plan, which will examine how I&M will meet customers' future energy needs.

New Payment Option

The settlement agreement approves a pilot program that allows a limited number of customers to pre-pay their electric bills, much like pre-paid cell phones. Up to 2,300 customers will be able to participate in PowerPay, a program that will offer a choice of when and how to pay their electric bills, providing the opportunity to make payments that are more in line with their cash flow. PowerPay is designed to help customers avoid larger-than-expected bills by receiving daily updates on usage and related costs.

I&M has agreed to meet with the OUCC, a government agency, and the Citizens Action Coalition (CAC), a customer advocacy organization, before launching the pilot and again a year after the program launches to review details. The plan could be expanded to more customers after the two-year pilot concludes.

Other Settlement Terms

There are several other mutually agreed upon terms of the settlement.

  • I&M agreed no customers will be disconnected for nonpayment on Fridays, Saturdays, Sundays and key holidays.
  • I&M has agreed to invite the CAC, City of Fort Wayne, OUCC, and any other interested stakeholder to participate in a stakeholder process in advance of the I&M's future Electric Vehicle filing to accept feedback on what is important to different stakeholders.
  • I&M has agreed to work with the CAC and other interested stakeholders on potential updates to I&M's interconnection procedures in Indiana to facilitate distributed generation such as solar panels and wind turbines while ensuring the safety and reliability of the energy distribution system and compliance with Indiana law and regulation.
  • I&M agreed that if the utility moves forward with an innovative broadband program in Delaware and Grant counties, the costs of the program will not be included in customer rates. I&M is considering offering Internet service providers the ability to use I&M's broadband infrastructure needed for electrical equipment to greatly expand internet service in the two counties.
  • I&M will donate $400,000 to the Indiana Community Action Association to help low-income customers. The donation will not be included in customer rates.
  • I&M will set the fixed service charge for residential customers at $15 per month.

What's Next

I&M worked with organizations representing various consumer interests to reach the settlement agreement in the current rate review. In addition to I&M and the Indiana OUCC, other groups supporting the settlement agreement were: Citizens Action Coalition of Indiana; Walmart Inc.; I&M Industrial Group; the City of Fort Wayne; the City of Marion and Marion Municipal Utilities; and Wabash Valley Power Association.

The IURC is expected to review the settlement agreement, with a final ruling expected in mid-2024.

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