Indianapolis utility reaches agreement on rate changes

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INDIANAPOLIS (AP) - Indianapolis Power & Light Co. has reached an agreement not to raise the fixed monthly rate it charges most of its residential customers.

The agreement announced Thursday involves the Indianapolis-area utility and several organizations.

The deal is subject to approval by the Utility Regulatory Commission and would keep the monthly residential customer "fixed charge" for most customers at its current $17 level. IPL had said it wanted state regulators to allow it to increase the charge to $27.

The Indianapolis Business Journal reports the utility says other changes would mean a typical residential customer using 1,000 kilowatt hours monthly will pay about $5 more per month, or about $118. Earlier proposals would have increased that bill to almost $125.

IPL is still expected to see operating revenue rise $43.9 million.

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Information from: Indianapolis Business Journal, http://www.ibj.com

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