Why is a rate review needed?

residential rate comparison chart

A rate review is needed so I&M can continue Building the Future for our Michigan customers.

Indiana Michigan Power has a long history of providing reliable power while keeping costs low.

Our costs to residential and business customers are below state and national averages. I&M has not sought a regulatory review of its base rates for six years.

I&M strives to serve our customers reliably, efficiently and in the most cost-effective ways possible. We constantly evaluate our system based on a balance of overall reliability costs to our customers.

I&M needs to invest more to maintain and enhance reliability and to adapt to evolving technology and regulation.

residential rate comparison chart

Generation Reliability

As part of its Building the Future plan, I&M is investing in our Cook Nuclear Plant to ensure its long-term availability to generate 24/7 low-cost energy – with zero emissions – in southwest Michigan for many years to come. Cook employs about 1,200 people full-time.

  • I&M is investing $1.2 billion in Cook equipment replacements and upgrades to support the extended operation of the plant into the 2030s. Those investments have not yet been included in Michigan rates.
  • New rates would also reflect the cost of upgrades and modifications required by the Nuclear Regulatory Commission.
  • For more information, visit the Investing In Cook page.

Distribution Reliability

Distribution wires carry energy from substations to neighborhoods and downtowns.

  • Trees are the No. 1 cause of customer outages. I&M has begun to accelerate tree trimming and clearing to achieve a cycle where all trees near power lines are trimmed every four years.
  • I&M also plans to pro-actively and systematically replace and update aging wires, poles, transformers and other distribution equipment. I&M’s five-year plan calls for replacing more than 2,000 poles, more than 50 miles of overhead wire and more than 20 miles of underground wire.
  • What may be less obvious – but just as important – is the additional technology I&M will employ to help reduce the outages and shorten the length of time such outages last.

Improving reliability is important to our customers. In a survey of I&M Michigan customers, more than 70 percent said the most important action I&M could take is to quickly restore power when outages occur or keep power outages to a minimum.

Energy Mix In Transition

As the nation moves toward increasing use of renewable energy, I&M is proud that more than 60% of the energy generated in 2016 came from emission-free sources.

I&M is a regional leader in developing solar power plants, building four plants in our service territory, including one in Watervliet.

As the nation moves more rapidly toward renewables, I&M will be Building the Future by preparing for the declining use of coal-fueled plants. I&M proposes to shorten the depreciation schedule of Unit 1 of its Rockport plant to prepare for its eventual retirement; the sooner depreciation costs are adjusted, the less impact on customers.

Enhancing Customer Service

  • As part of I&M’s ongoing commitment to enhance our interactions with customers, I&M proposes to eliminate the fee for charging a bill payment on a credit card. Eliminating the fee helps customers who choose this method of payment.
  • Advances in technology increasingly give customers the capability to better measure and control their electric use with advanced new smart meters. Because I&M wants the flexibility of better serving customers by updating its meters sooner rather than later, I&M will adjust the depreciation period for its current meters.

Developing Southwest Michigan's Economy

I&M proposed offering a new rate to qualifying industrial and commercial customers to help attract and keep businesses and industries in southwest Michigan. In addition to helping develop the economies of the areas where they are located, new and growing businesses assist state and local governments by bringing in additional tax revenues.

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