The utility is asking state regulators for permission to increase the “fixed charge” on its 490,000 customers from $17 to $27 a month, and increase energy-usage charges also.
The shakeup means that Rafael Sanchez, who has led the Indianapolis operations since June 2016, is out and will be replaced by a company official who will lead both Indiana and Ohio operations.
Rafael Sanchez, who took over in June as CEO of Indianapolis Power & Light Co., is a decidedly nontraditional pick to lead a company facing big challenges and difficult choices.
The parent company of Indianapolis Power & Light Co. plans to use the investment to help fund $1.4 billion in capacity improvements and environmental upgrades for IPL.
Kelly Huntington, 38, worked in investment banking and private equity before getting her MBA and landing a job at AES Corp., parent of Indianapolis Power & Light Co. She became IPL's president in 2013.
The state's corporate-friendly environmental policies aside, Indianapolis Power and Light Co.’s parent chose the city as its new center for U.S. operations largely because of the utility's billion-dollar upgrades.
AES Corp., the multinational parent company of Indianapolis Power & Light Co., says the move will cost $1.2 million and create up to 100 jobs by the end of 2014.
AES Corp., based in Arlington, Va., has been considering Indianapolis as the hub for a new shared-services center, and is planning a major economic development announcement in the city on Friday.
Ray Humke, 80, served as president of Indianapolis Power and Light Co. from 1990 until he retired in 2001. He died Tuesday following a brief illness.
Indianapolis Power & Light chief Ann Murtlow left the utility this spring under terms of a separation agreement that would have entitled her to at least $404,410, according to documents the utility filed Nov. 3 with the Securities and Exchange Commission.
AES, which owns Indianapolis Power & Light, is just the latest energy company attempting to bulk up with rising costs from new environmental regulations on the horizon.
Ann Murtlow's ability to connect with employees and the community has helped her thrive in a male-dominated field. She is one of a only a handful of women in the country to lead utilities.
Ann Murtlow describes taking control of the troubled utility and how she handles the demands of serving on a dozen different boards.
Indianapolis Power and Light Co. is suing its engineering consultant over an industrial accident that spilled 30 million
gallons of polluted water into White River.
Indianapolis Power & Light could have been on the hook for more than $100 million in retirement benefits, but a ruling this month by the Indiana Utility Regulatory Commission allows IPL to keep the money.
In a case with huge financial implications for Indianapolis Power & Light and Virginia parent AES Corp., a labor union and
16 IPL retirees have asked regulators to force the utility to pay up to $115 million to back-fund a retirement plan it spun
off in 2001.
