The average Indiana Michigan Power residential customer would pay about $9 more a month under plans the utility filed today.
I&M is proposing a $104 million revenue increase – about a 6.5% increase – to make investments in reliability, customer experience and new technologies, according to a news release.
The Indiana Utility Regulatory Commission will conduct a review process with opportunities for public comment – a process that typically takes 300 days.
"We are committed to our customers and continuously focus on new technologies and greater efficiencies, all while controlling costs," Toby Thomas, utility president and chief operating officer, said in a statement. "Investing in high-tech equipment will strengthen and modernize power lines in Indiana, and at the same time enhance the customer experience."
The increase for residential, commercial and industrial customers will vary depending on usage, but I&M calculated estimates for the typical residential customer who uses 1,000 kilowatt-hours of electricity a month.
Those customers would see their monthly bills increase from about $158 to $167 per month, a 6% increase, the release said.
The increase includes a requested service charge change. The utility wants to raise this fee to $20 per month from $15 per month for residential customers. The small commercial customer charge would increase to $25 per month from $19 per month.