FORT WAYNE, Ind. (WOWO) — Indiana Michigan Power (I&M) is proposing a major rate reduction that could lower electric bills for its Indiana customers beginning next summer.
The Fort Wayne-based utility says its proposal would reduce customer bills by about $59 million in 2027. For a residential customer who uses 1,000 kilowatt-hours per month, that could mean estimated savings of about $100 a year.
The proposal would also freeze all residential rates on monthly bills for three consecutive years, providing customers with more certainty about their energy costs…