• Facebook
  • Twitter
  • RSS
24°
Wednesday April 16, 2014
View complete forecast
News-Sentinel.com Your Town. Your Voice.
This Weeks Deal
Lush Hair Artistry
Half-Off  partial hi-light with Jennifer at Lush Hair Artistry ($90 value)
This Week Only
$45
50% off
Local Business Search
Stock Summary
Dow16262.5689.32
Nasdaq4034.160
S&P 5001842.9812.37
AEP52.321.04
Comcast48.41-0.25
GE25.820.11
ITT Exelis18.070.28
LNC46.440.37
Navistar33.730.45
Raytheon97.920.41
SDI18.860.03
Verizon46.92-0.35

State trims I&M rate increase by half

Thursday, February 14, 2013 - 12:01 am

A state regulatory agency will let Indiana Michigan Power increase its rates enough to raise about $85 million more in annual revenue -- less than half of the increase I&M sought.

The Indiana Utility Regulatory Commission's ruling, issued Wednesday, reduces by about 50 percent I&M original request of about $174 million in extra revenue, which would have raised the average customer's monthly bill by 25 percent, or about $20 a month.

The state Office of Utility Consumer Counselor, a utility watchdog agency, previously said the full increase, combined with separate projects at two of I&M's power plants, could have resulted in an overall rate increase of 37 percent.

I&M last had a rate increase approved in 2009.