If the request is approved, the average residential customer will see an increase of about $8 per month by year’s end. The proposed increase will vary among businesses depending on rate class and usage.
A conference will be held Jan. 26 to establish the filing and hearing dates. By mid-March a field hearing will be conducted so that the public can weigh in on the petition.
The proposed increase is separate from the previously announced increase of an average of 3 percent per year to comply with environmental regulations while meeting future needs of customers.
The company has the lowest residential rates of the 20 largest cities in the United States, said IPL President and CEO Kelly Huntington, who added that IPL ranks in the top 10 percent nationally in reliability. The company’s rates rank among the lowest in the country among investor-owned utilities, she noted. And even with the requested increase, the rates should remain there.