Regulators approve Indiana Michigan Power rate hike

The Indiana Utility Regulatory Commission approved a seven percent increase.

Posted: May 30, 2018 7:18 PM
Updated: May 31, 2018 10:37 AM

FORT WAYNE, Ind. (WFFT) - Indiana Michigan Power customers can expect to see an increase on their electric bills.

The Indiana Utility Regulatory Commission approved a seven percent increase.

I and M said in a news release the additional $96.8 million a year will go toward infrastructure improvements.

The power utility said the decision will allow them to serve customers in other areas, such as creating a new program to help low income customers reduce their energy bills and eliminating credit card fees.

The increase will be phased in starting with the July bill.

It will be fully implemented in 2019.

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