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.
If state regulators approve the request from Indianapolis Power & Light Co., customers would see their rates rise by the end of 2018.
IPALCO posted a profit of $33.2 million on revenue of $355.3 million in the latest quarter. That compared to profit of $47.3 million on $361.3 million in revenue in the same quarter a year earlier.
The city said it will use the savings from the more energy-efficient lights to add another 4,000 streetlamps.
Bradley and Montgomery has renovated the second floor of the Indianapolis Power & Light Co. building, adding modern touches while keeping some organic elements.
The utility says the increase, which would go into effect by the end of 2017, would be used to build one of the “cleanest, most efficient natural gas plants ever to be built in Indiana.”
A dispute has broken out over the financial terms under which IPL connects its new, $25 million, energy-storage system to the grid.
Indianapolis plans to install another 25 streetlights by the end of the year, continuing Mayor Joe Hogsett’s push to light up neighborhoods with higher accident and crime rates.
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.
IPL has filed petitions with the Indiana Utility Regulatory Commission to install $100 million worth of pollution controls at Petersburg, a move it says will allow it to meet strict environmental regulations.
The city plans to end a moratorium on new streetlights by installing 100 lights in areas with high accident and crime rates, and in growing neighborhoods, Mayor Joe Hogsett announced Thursday.
Rafael Sanchez, who joined IPL five months ago as senior vice president of strategic planning, has been promoted to the top job, the utility announced Wednesday.
Joe Hogsett said more streetlights, for safer streets, would be one of his first priorities as mayor. Nearly four months after taking office, the administration is still in discussions with Indianapolis Power & Light Co.
About 470,000 customers of Indianapolis Power & Light Co. can expect to see their monthly bills increase after state regulators approved an order allowing the utility to collect an additional $29.6 million in annual revenue.
As chairman of Senate Utilities Committee, Sen. James Merritt supported numerous bills favored by big utilities, the railroad’s biggest customer. Now he’s out of a job.
Indiana’s manufacturers and municipal utilities are preparing to wage a battle with investor-owned power companies in their desire to get a handle on rising electricity costs.
Kelly Huntington, president and CEO of Indianapolis Power & Light Co., has stepped down to become senior vice president of enterprise strategy at OneAmerica Financial Partners Inc., the companies announced Thursday.
The Battery Energy Storage System, or BESS. will be built at the Harding Street Station. The utility received approval for a 10-year tax abatement from the county that will save it more than $3 million on the project.
The utility is seeking a $3.1 million tax incentive that it says will help it retain 791 employees in Marion County.
