The Indianapolis-based utility said it also will spend $5 million to mitigate what critics say has been harm to the environment caused by the plant’s excess emissions over the years.
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The service started by the parent company of Indianapolis Power & Light offers monthly subscriptions that cover use of a car, plus all insurance and maintenance costs.
IPL said a typical household customer would likely pay an extra $1.50 a month in the first year. That monthly amount would increase by $1.50 each year, or by a total of $10.50 a month by the seventh year.
The Petersburg Generating Station, about 120 miles southwest of Indianapolis, has been called a “super polluter” by environmental groups, with violations for excess sulfur dioxide, nitrous oxide particulate matter and sulfuric mist.
The monthly rate increases, if granted by state regulators, would likely be about $1.50 for the typical household customer in the first year. That monthly amount would increase by an additional $1.50 each year, or by about $10.50 over the seven years.
Vincent Parisi will become the fourth leader of IPL since 2015, managing a utility that serves about 500,000 customers in central Indiana.
Rafael Sanchez, who left his job as president and CEO of Indianapolis Power & Light Co. this year as part of a corporate restructuring, has been hired by another of Indiana’s corporate heavyweights.
Indianapolis Power & Light has agreed not to raise the fixed monthly rate it charges most of its residential customers, under a rate-case settlement it reached with the Indiana Office of Utility Consumer Counselor and other stakeholders.
In a sharp rebuke, the Indiana Office of Utility Consumer Counselor said IPL’s $96.7 million rate increase is unjustified. It is recommending a much smaller increase.
Democrat Jared Evans said the council members are hoping to “raise awareness” about the issue and persuade state regulators to drastically reduce the amount IPL raises its rates, “if they don’t decline this altogether.”
About 27,000 city-funded streetlights will be updated with the more energy-efficient, light-emitting diodes through spring 2021.
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.
The city said it will use the savings from the more energy-efficient lights to add another 4,000 streetlamps.