FORT WAYNE, Ind. (WPTA) – Indiana Michigan Power announced Tuesday it will file for regulatory approval to lower base electric rates, which the utility said represent the largest portion of customer bills.
Customer Benefits Plan
The move is part of I&M’s new Customer Benefits Plan, which must be approved by the Indiana Utility Regulatory Commission before taking effect. The utility attributed the proposed rate decrease to increased revenue from large customers, including data centers such as Google’s Fort Wayne site.
The plan also includes a “Benefits Bank” designed to help stabilize customer rates by providing a buffer against future cost increases. I&M said it also wants to make strategic improvements in infrastructure and technology to reduce outages and improve reliability.
Data center demand concerns
The announcement comes as advocates have raised concerns over electric rate increases tied to data center growth. I&M has also filed separately to accelerate new power plant construction, as demand is projected to nearly double between 2025 and 2030.
Google also previously agreed to reduce its data center’s electrical use during times of peak demand…