Good News: Indiana and Michigan Power to Reduce Residential Rates by 5%
By Tracy Warner— FORT WAYNE, Ind. – Indiana Michigan Power (I&M), an American Electric Power (Nasdaq: AEP) company, has filed with the Indiana Utility Regulatory Commission (IURC) a rate settlement agreement that will reduce base rates for Hoosier residential customers while enhancing reliability. Under the settlement, I&M will reduce its base rates for Indiana residential customers by about 5% over two phases, with a slight decrease of about 1% in May 2022 and an additional, larger decrease in January 2023….
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