INDIANAPOLIS -- Indianapolis Power & Light lowered its request for a rate increase request Friday as a result of President Donald Trump's tax reform.
IPL had asked the Indiana Utility Regulatory Commission to approve a $124 million rate increase but is now asking for a $95 million increase.
You would see an $11.50/month increase in your bill instead of a $14/month increase.
"The Tax Cuts and Jobs Act of 2017 gives IPL the ability to provide a benefit to customers by reducing our rate request while continuing to provide safe and reliable service to our customers," said Ken Zagzebski, President and CEO, IPALCO Enterprises, IPL's holding company.
The proposed rate increase still is subject to public hearings and approval by the IURC.
If approved, the new rates will become effective by the first quarter of 2019.
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