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American Electric Power Unit Proposes Rate Reduction Plan for Indiana Residential Customers

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American Electric Power's (AEP) Indiana Michigan Power is responding to the state of Indiana's call to make energy more affordable with a plan to deliver savings and stability for customers, the subsidiary said Wednesday.

Indiana Michigan Power's base rate reduction plan includes about $59 million in bill reductions in 2027, which is expected to help a residential customer in Indiana using 1,000 kWh a month save about $100 per year, it said.

The plan also offers stability for Indiana residential customers by proposing to freeze all rates on their monthly bills for three years, the company added.

Indiana Michigan Power said it expects a decision from the Indiana Utility Regulatory Commission on the proposed plan in June 2027, and customers are expected to see savings on their monthly bill beginning in summer 2027.

Price: $123.30, Change: $+0.53, Percent Change: +0.43%

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